Landlord News

A growing number of people are looking to Scotland when making property investments, according to Scottish legal firm, Russel + Aitken.

Diane Paterson, property partner at the firm, claimed that the 24.3% rise in sales since the beginning of 2010 has been ‘hugely encouraging’ for the Scottish property market.

Ms Paterson did urge caution to those who were excited by these figures. Despite the positive signs we must realise that these figures are being compared to the beginning of 2009, when sales had plummeted to their lowest level since 2003, she said.

Some commentators have claimed that the political uncertainty caused by the hung parliament will have a knock on effect on people’s confidence in the housing market. However, Ms Paterson was keen to play such comments down, saying that the political situation would have no great effect on the Scottish housing market.

‘It is generally felt that consumers are feeling much more confident about the property market this year - despite election uncertainty - due to falling mortgage costs and continuing demand for good quality property’, she continued.

Gillian Greenwell, general manager at Kirkton Property Centre, revealed that people with ‘ex council properties and those at the higher end of the market’ could expect to see the greatest interest from potential buyers.

She went on to say that first time buyers were struggling to buy properties, in large part because of the large amounts needed for deposits. This will come as excellent news to landlords, as potential first time buyers will be forced into renting for lengthier periods.

Those landlords attempting to sell currently vacant property are urged to look into the option of Unoccupied Property Insurance.