The Referendum result signals an end to uncertainty in the Scottish property market.
On 18 September 2014 the Scottish electorate made its decision and voted against Scottish Independence.
Running up to the Referendum, many buyers and sellers were taking a cautious approach. The debate held back the market, particularly reducing the number of buyers from south of the border moving north.
A body of research published by Savills suggests consumer confidence is now back. They foresee an increase in the number of higher value houses coming to the market, as well as a boost to the entire market. They also anticipate the return of London super-commuters, attracted by the comparative good value on offer in Scotland.
Key findings following the Referendum decision:
- Prime Scottish transactions have increased annually by 39%, outperforming the mainstream market.
- Prime value recovery across Scotland is more evident in urban areas, compared to country locations.
- The Scottish housing market is expected to now be robust enough to adjust to forthcoming changes to Stamp Duty and Help to Buy.
