According to a recent Royal Institution of Chartered Surveyors (Rics) survey, house prices in Scotland are expected to rise over the next few months and 36% of surveyors questioned predicted that there would be an increase in Scottish property sales over the next quarter. In addition, more surveyors said that they expected prices to rise over the next three months.
Despite a rise in the number of homes for sale, demand still outweighs supply, driving house prices up.
Throughout the rest of the UK the demand for property has actually fallen, and this is believed to be due to the uncertainty caused by the Brexit campaign. However, this rise in house prices in Scotland has very much bucked the trend.
The demand that we are seeing for property in Scotland simply cannot be met, and there is a requirement for an increase in housing supply across all property types and locations within Scotland.
Rics found that across Scotland in April sales remained steady and this is set to continue despite the Brexit campaign.
A survey by KPMG carried out this year found that 66 per cent of estate agents believed that ‘Britain leaving the EU would have a negative impact on inbound cross-border investment’ and the Chancellor of the Exchequer George Osborne has claimed that leaving the European Union would hit house prices significantly and make mortgages more expensive.
However the feeling is that London will be most affected, with this report from Rics showing that regardless of the outcome of the European Union prices in Scotland will continue to rise steadily.
Here at Clyde Property we are seeing nothing but positive signs for the rest of 2016. Derek Hughes, Area Director at Clyde Property in Shawlands says: “The market is performing exceptionally well. Buyer demand continues to out-strip supply. We have many registered, ready to move buyers desperate to secure there next home. The vast majority of properties coming to the market are receiving multiple interest resulting in competitive situations and closing dates.”
In the West End of Glasgow we have the highest levels of prospective buyers registered on our database since before the financial crash in 2008 and believe that even with that even with the introduction of the new landlord tax which came effect last month, we don’t anticipate a slowdown in the market any time soon. We are regularly setting closing dates within weeks of a listing and our viewings levels are up by 40% compared to this time last year.
In Milngavie, a property we listed on April 22nd sold within just one week, 8% above Home Report value. Over the course of the first weekend we arranged 18 viewings all of which were carried out the following week.
Our Edinburgh branch is quickly growing, setting a standard of how estate agency should be with happy clients, houses sold in 2 days or less and a growing portfolio on both sales and letting.
Here at Clyde Property we believe that 2016 will be an exceptional year for Scottish house prices. To sell your home with us or find out more about our award winning services, visit our website or contact your local branch today!
