Scottish Sales Down but Prices Resilient

Figures released by Lloyds TSB Scotland show that the Scottish house market is currently behaving rather differently than that of the rest of the UK. The Scottish House Price Monitor shows in Scotland prices crept up by 1.6% in the quarter to end July.   This contrasts well with figures from other UK regions which show prices falling.   However Lloyds report also shows a large fall of 27% in the number of transactions completing. “These figures mirror Caesar and Howie’s experience “said managing partner David Borrowman.  “To the half year our sales were down by 22% from last year – but we have not yet found any significant slippage on prices.  On the other hand “continued David “sellers have to realise that this is now a buyers’ market – unlike the sellers’ market of the last few years.  Fixed prices are now becoming the norm, and sensible pricing with wide internet exposure of the property are keys to selling a house successfully.  But most of all – sellers must be patient because house sales are taking longer to achieve.  Buying a house is still a big ambition for most in Scotland and we feel that as the mortgage market comes gradually back to normal sales volume will steadily pick up again”