Scotland’s property market has remained resilient and in growth over the past three months, according to the Royal Institute of Chartered Surveyors.
Its July 2017 RICS Residential Market Survey revealed that, while areas including London and South East England pulled down the UK’s average price growth, Scotland as a region has continued to perform strongly.
Scotland performing well
According to the survey, more than +20% more of respondents reported a growth in prices during the course of the past three months.
Furthermore, +10% more of respondents reckons that sales will continue to grow over the next three months. And between +10-20% of respondents foresee prices growing in line with this sales growth.
LBTT ‘remains a factor’
Various surveyors commented on the Scottish results, with several citing the impact of LBTT on the higher-end purchases in the Scottish property market.
However, generally speaking, the market remains positive. For instance, Kevin MacDonald of surveyor firm Graham + Sibbald for Inverness said the Inverness market “remains buoyant showing consistent turnaround of sales at slowly rising prices, especially for bench mark mid-range properties.”
Elsewhere, Chris Hall of Rettie and Co commented that, in terms of Edinburgh, the market remains “very stratified in relation to value – some sectors are very much a sellers’ market”.
Stock levels causing price spike
Various Scottish surveyors stated that, due to lack of stock in many parts of Scotland, prices were in growth as demand outpaced the number of properties coming to market.
So if you’re thinking of selling your property, now could be the perfect time as it remains a sellers’ market.
Clyde Property is a leading independent, multiple-award winning estate and letting agent with 30 years’ experience in selling and letting property in Scotland. Just call your local Clyde Property branch today, for friendly, impartial advice on finding your next dream home.