RETAIL DIRECTOR SCOTLAND & NORTH EAST (COUNTRYWIDE GROUP) “THOUGH the path ahead is currently unclear and short-term volatility is likely, it is too early to speculate what this means for house prices and volumes.
“The fundamentals for the market remain: people will continue to need somewhere to live and so aspiration for home ownership and demand for quality stock in the rental market will remain strong.
“It is now time for those with experience in the property sector to help customers navigate the current uncertainty.
“Slater Hogg & Howison’s role as a leader in the property sector is to use our local expertise and knowledge to navigate the coming challenges “BREXIT is the political topic of the day and while some property commentators are predicting contraction in the market, others are predicting growth.
“In the final analysis, no one can accurately predict the future but to give the position some balance, growth or contraction in the capital value of residential property is driven by the simple pressure of natural market forces mechanised by supply and demand.
“Inevitably there will be background issues – cost of money, exchange rates, confidence in the future, political uncertainties, global issues.
“However, the underlying trend is that there are more people who want to buy residential property than there are properties being built or are available for sale, a classic supply demand imbalance in favour of sellers.
“In Scotland, the supply demand picture at present is more balanced, but we are not facing Armageddon and life will go on irrespective of the leave vote result. and ensure we can continue to help customers across Scotland to buy or rent the right home for them, while helping buyers secure the right mortgage.”
“We anticipate that in the short term transactional activity will reduce slightly, after which the dust will settle and while Brexit is negotiated, conventional market conditions will likely prevail.
“The prime market should be able to cope with the turbulence of recent political and taxation challenges and to continue the value growth that had been under way prior to the Euro referendum.”
In Scotland the picture is more balanced and we are not facing Armageddon and life will go on irrespective of the leave vote
PRINCIPAL ROBB RESIDENTIAL, GLASGOW
PARTNER AND HEAD OF RESIDENTIAL, CKD GALBRAITH