Although property prices in Scotland were down slightly in the run up to Brexit, according to recent reports the overall outlook is good as figures show they are up 4% year on year. The market remains strong, helped by the low mortgage rates currently available, high employment levels we are seeing, as well as the continuing demand for property in the capital.
The demand for residential properties continues to vastly outstrip supply, although it is hoped the focus on building new properties will help to ensure there are enough homes for buyers.
Partner Mary McQueen comments: “The market is picking up again after Brexit which is promising. Demand remains high, especially in Edinburgh, however there are not enough houses on the market to meet current demand. We are seeing a huge number of new build properties under construction and we have a specialist team who act on behalf of clients purchasing a New Build Property directly from a builder. There are many issues to consider when purchasing a new build property and it requires a certain amount of expertise.”
If you are interested in putting your property on the market and taking advantage of the current market conditions, or would like to buy a new build property, then speak to Mary McQueen for further information on our fixed fee estate agency and conveyancing services.