Scottish home sales down
Homeowners in Scotland who are considering investing in a bespoke conservatory in order to boost the appeal of their house may be interested in the latest figures from the Council of Mortgage Lenders (CML).
Statistics show that property purchases north of the border fell by 33 per cent in the first quarter of this year - in line with the rest of the UK.
The final three months of 2009 saw £1.6 billion distributed between 14,400 home loans, but this fell to just £1.1 billion for 9,700 mortgages between January and the end of March 2010.
However, the figures actually represent a 28 per cent year-on-year rise and would have been greater had many buyers not bought in late 2009 to take advantage of the stamp duty holiday.
"The pace of recovery in Scotland at first sight appears slower than in the rest of the UK," explained CML Scotland policy consultant Kennedy Foster.
"In fact, throughout the current housing cycle, market activity in Scotland has followed that of the whole of the UK very closely, but with a lag of around one quarter."
In other news, Keith Street, head of intermediary mortgage lender Kensington, has been appointed to the executive committee of the CML.
Posted by Ashley Ault
Green homes event in Manchester
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