Scottish property market looking positive
Scottish homeowners who are planning to invest in a bespoke conservatory or kitchen extension to increase their property's appeal to buyers may be buoyed by the latest comments from Russel + Aitken.
The firm suggested that the recent rise in property sales in the country showed that there are reasons to be optimistic about the state of the market.
It was referring to Registers of Scotland statistics which show that house prices in the country rose by 3.6 per cent in the second quarter of 2010.
Meanwhile, the volume of sales rose by 29.6 per cent in the same timeframe, which Russel + Aitken residential property partner Dianne Paterson said was a positive sign.
However, the expert noted that the total number of homes on the market is still "substantially down" on pre-recession levels.
Restricted lending criteria continues to impair first-time buyers' ability to get on the housing ladder, Ms Paterson added.
Despite this, there are some positive signs and people should generally view the future of the market with optimism, she claimed.
"To a large extent, the property market is fuelled by confidence and these figures suggest that confidence is at last returning to the market place," Ms Paterson noted.
Posted by Cheryl Stevenson
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