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Scotland’s Property Market Soars to an 11-Year High Amid Brexit Uncertainty Posted: 30th August 2019
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According to a recent quarterly property monitor from legal firm Aberdein Considine, for the six month period from Janaury to June this year, property transactions have been worth more than £8bn. These are the strongest figures since 2008.High sales in Q2 have been credited with driving the trend.

What’s more, in Glasgow’s most affluent suburbs of East Renfrewshire and East Dumbartonshire along with Edinburgh have the highest property prices and have seen the strongest markets.  These regions have a common tie, which is a lack of homes for sale. With not enough homes on the market to meet demand, prices are driven up.

In Q2 2019, a total of 25,806 sales were concluded – a rise of 4% on the same period last year, The average Scottish home rose by 1.6% despite markets stalling and falling elsewhere.

Edinburgh remains the most expensive place in Scotland to buy a home, with the average cost at £264,943.

It appears that buyers are taking a longer term view on the property market amid the Brexit ‘fiasco’.  Home owners are looking beyond the current political climate with a measure of confidence.

Talk to us at Nicol Estate Agents if you would like to find out more about the property market here in Glasgow and in particular East Renfrewshire.

 


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