It has been a while since I have written a property blog although there has been a lot happening.
I thought I would start with a quick overview. In my June overview I did mention that there were some icy winds blowing across the property market and it would be interesting to see what impact they would have. The feedback from my own experiences and that of the Blackadders’ Property Team is that listings from the middle of August have not increased the way I would expect them to and are very much lagging behind previous years. This for me is slightly concerning as in terms of normal market flow it is important that there is a stock of property built up in September prior to the October holidays. Despite various government initiatives (more blogs on these later) the number of first time buyers continues to be at record low levels. This is having an impact on the whole market.
I still believe the long-term outlook for the property market in Scotland is very strong but my feeling is that activity levels will continue at low levels until the turn of the year and then we will see a continued and ever improving housing market.
These are just trends and I will continue to report on them as and when I get more information.Lindsay Darroch Partner & Head of Property