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The Scottish Housing Market

Posted in   Aug 31 , 2023

What's the Latest on The Scottish Housing Market?

The month of May brought a glimmer of hope that the housing market in Scotland had started to rebound. At the end of last month saw Taylor Wimpey securing detailed planning of homes in west Edinburgh. We also seen Stirling Council approves plans for new Kippen development. All good news for the housing market, but what does it mean for the many smaller companies who rely on the housing market and more importantly for the residential market of buyers and sellers. 

How is COVID-19 impacting the housing market?

With the publication of the Scottish Government's COVID-19 route map on its phased approach to easing lockdown. As we progress through Phase 1 there is little or no change to many people or businesses. Apart from an easing up of people congregating from other families in an outside space, it is lockdown life as usual.  

Everything connecting with moving homes such as sales and lettings are on hold for the foreseeable future. Moving home is therefore very unlikely unless it is deemed to be essential or exceptional circumstances. The hope is that when we move to Phase two which is expected to be in the next few days, we should see the Scottish government relax restrictions on house moves in the Scottish Housing Market. 

Here are the updated COVID-19 guidelines

What could be next?  

Will there be a flood of activity in the Scottish housing market? According  to the ESPC, when they compared the two weeks after the English property market restrictions were relaxed to the two weeks before, there's been a 60% increase in viewing requests,37% increase in Home Report downloads and 16% increase in web traffic sessions on their main site. The hope is that this is an indication of things to come. Remeber when selling your home please read our 10 Step Guide to Get the Most Value for Your Home

When we eventually do come out of lockdown, there is no doubt that the economy will be not be in a healthy robust state. We will see low growth, more government borrowing and debt and the possibility of higher taxes across many areas of our lives both personal and work related. A healthy property market needs economic growth and consumer confidence. However, on a positive side, initially there will be a backlog of people who need to relocate, and this process should be unleashed as barriers come down, allowing at least some positive movement on the market. However, you must tread carefully be safe and make sure you make the right decision for you financially in the future. If you are havign trouble with any property terms then why not check out our Jagon Buster

If you have any questions regarding property sales or the scottish housing market within Lanarkshire, Bellshill, Coatbridge, Airdrie, Motherwell then please do not hesitate in getting touch at sales@LanarkshireEsteAgents.co.uk or call us on 01698 441327 

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