Scottish property market ‘recovering steadily’

Scotland is seeing a gradual recovery, a property lawyer has said.

Partner at legal firm Russel + Aitken Diane Paterson remarked: “There has been a steady improvement in activity in Scotland over recent months and confidence has been returning.”

This situation will continue in the months ahead, she predicted, with “stability” being the defining characteristic and little prospect to a return of pre-credit crunch high inflation.

The expert said this would be the case both for prices and the number of property transactions taking place moving ahead into next year.

Ms Paterson was speaking after a poll by the Royal Institution of Chartered Surveyors found that 75 per cent of its Scottish members said there was no change in prices last month.

Overall, the 12 months to the end of August saw a 0.8 per cent dip in Scottish house prices, according to the latest Department of Communities and Local Government figures.

Leave a Reply

Your email address will not be published. Required fields are marked *