Buying or Selling, Get the Facts

Tayside housing market back with a bang, say experts

Since the restrictions were relaxed on the Scottish housing market four months ago it came as no surprise that activity in the market surged dramatically. We have seen an astonishing amount of homes coming to the market with many enquiries from buyers and sellers. In October, although listings were at near record levels, sales still outstripped supply, so there are still lots of buyers out there looking for property. Seasonally, we would expect to see a bit of a slowdown in the numbers of properties coming to the market but potential sellers should not be put off coming to the market by worrying about a lack of buyers as there is clearly still demand, and November, perhaps surprisingly, has been a very good month for sales in the last few years. Obviously we can’t predict exactly what impact the restrictions now in place might have, but these current restrictions do not prohibit or prevent viewings nor house moves, provided these are carried out safely and in accordance with guidance from the Scottish Government. Even in England, where “lockdown” came into play recently, the property market can continue to operate, which is a significant deviation from the original lockdown rules. There may be a concern that lenders will be slower to process applications under all these restrictions, and it may be prudent for buyers not to aim for settlement dates that may prove difficult to achieve, but clearly many lessons have been learned since the “first wave” and lenders’ systems and processes have adapted to cope.

The TSPC office in Dundee’s Whitehall Crescent is currently closed to the public, however the website is being kept up to date with the latest listings and information. A digital version of the TSPC Property Guide is also available. Find your next home, and get more information, at the TSPC website.