Slow Recovery Continues

Half year figures issued by the Registers of Scotland confirm modest but continuing increase in house sales.  All house sales are recorded with this national agency and its data therefore is perhaps more complete than other data from for example lenders or sales agents.  Sales across the country are up by approximately 9% for the six months to the end of June, as compared with the same period last year. The figures are reflected locally in Caesar and Howie sales figures.  “We have seen a modest increase this year in completed sales and also conveyancing purchases” comments David Borrowman, Senior Partner of Caesar and Howie.  “So there is a bit of a change in the market after several very difficult years.  But whilst this is encouraging news – we have to keep things in perspective.  Transaction numbers are at last going up a little but sales are still less than half pre recession levels.  Also apart from some city areas most sales can take many months to achieve.  I would therefore, still advise clients to be cautious and patient.  Price your house sensibly, sell first before committing to a purchase and be very patient.  I do feel however that by approaching the market properly there are bargains to be had because I think in the longer term the likelihood is that prices will start to rise again.”