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.
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