News

Scottish property market looking positive

 
07 May 2010

Scots thinking of building a bespoke conservatory or other home improvement to boost the value of their home may be pleased at how the property market is recovering.

According to Russel + Aitken, the housing industry north of the border has enjoyed a "hugely encouraging" start to the year.

With average house prices having risen by 5.4 per cent in the first three months of the year and property transaction numbers increasing by 24.3 per cent year-on-year in the same period, things are looking rosy.

Property partner Dianne Paterson explained that while the figures are promising, people should remember that the market has fallen dramatically in recent times and has a lot of recovering to do.

"It should be borne in mind that the comparison is being made with the same quarter in 2009, which was the lowest figure recorded for that quarter since 2003," she said.

The expert added that there is a renewed confidence in the Scottish property industry, which has been partially brought on by relaxed lending criteria and a steady stream of demand.

Posted by David WaxmanADNFCR-2746-ID-19765667-ADNFCR

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