The real estate market Scotland on the rise

Real estate market UK all signs of recovery. Is no exception and the property market in Scotland. The number of residential real estate transactions on the real estate market in Scotland increased by 26.1% in the last quarter of 2013 compared to the same period a year earlier. This statistic gives every reason to believe that the number of transactions in the 1st quarter will be even more. Such sales volume the property market in Scotland has seen since the 2007/2008 season.

In Inverclyde recorded the largest increase of transactions in residential real estate – 44,2%. Here, fixed and falling prices by 8.7% for the year (which is probably linked to the high activity on the market) and the cheapest average cost per residential property – £116087. In Edinburgh, this figure reached growth of 35% compared to the previous year.

Average property prices in Scotland increased by 3.1% in the last quarter compared with the previous year, reaching average prices of residential property in the UK £159670 .

The biggest growth of prices was recorded in region East Lothian, on the border with Scotland. Here, the average price for residential property – £209566 pounds and the price increase was 14.9% for the year. In East Renfrewshire the price increase is not as impressive, but here the property is the already the most expensive in Scotland – the average price of residential property reaches £222906.

Still, the largest property market in Scotland is Edinburgh, with sales of around £633 million for the quarter.

All types of residential property grew in value, the biggest increase was observed in prices for detached houses fell 2.2%.

The recovery in the property market is observed in all regions of Scotland. And Edinburgh has experienced a sharp increase in demand. 48% increase in the number of viewings of real estate in 2013, with 37% of buyers – people living outside Edinburgh who came for buying from afar. Increased interest in real estate Edinburgh to investors from the South of the UK and foreign investors.

Thus, the real estate market of Scotland, all signs of a stormy spring. The market will be able to offer all interesting options to buy, and sellers will certainly be able to sell your property at the best price in the last five years.

® Maximlevitsky. 06.02.2014 g

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