Demand for property in Scotland stays strong

New figures from a leading property consultancy in Scotland have further underlined the fact that demand for property in the country is strong.

The Registers of Scotland report for January-March 2017 shows that the volume of residential property sales north of the border rose by 3.4%. In addition, the total value of sales across Scotland increased by 5.5% in comparison to the same quarter in 2016.

Sales

Traditionally, the winter months are a less favourable period in which to sell property. However, the increase in sales reported by Registers of Scotland indicates that buyer demand stayed fairly constant in the opening quarter of the year.

Another report from CKD Galbraith underlines this trend, with residential property sales up by 7% over the last quarter, compared to 2016. This equates to £47m of property sales being handled by the firm during the period.

Over the same timeframe, the firm recorded a 57% increase in property viewings and a 49% rise in applicant registrations. Demand continues to outstrip the demand of properties coming onto the market.

Demand for property in Scotland stays strong

Benefits

Simon Brown, partner and head of residential sales at CKD Galbraith, noted: ‘Our figures mirror the last Registers of Scotland report and reflect the fact that sellers now reap the benefits of a twelve month market. Looking ahead over the next quarter we expect to see a number of changes to the Scottish property market.’[1]

‘As is typically the case in general election years, we anticipate that the uncertainty caused may well slow the property market down in the weeks leading up to 8th June. The market will, we believe, pick up again and continue growing once the dust has settled,’ Mr Brown added.[1]

[1] https://www.propertyinvestortoday.co.uk/breaking-news/2017/5/strong-demand-for-property-in-scotland