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Scottish Buyers Growing in Confidence

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real estate  GBP  Scotland  Bob Cherry  CKD Galbraith  Residential Property Markets 

Scottish Buyers Growing in Confidence

By - Wednesday 06 April 2011

As confidence in residential property markets around the world begins to grow, new figures show that investors and home buyers in Scotland are returning to the market. The number of properties sold or under offer during the first three months of 2011 increased by 49 per cent compared to the previous year.

This is according to research conducted by property consultancy CKD Galbraith, which noted that there has also been an increase in the number of prospective purchasers looking for real estate in the country.

It follows the release of the latest figures from the Registers of Scotland, which show that prices held steady in the final quarter of 2010, with the average cost of a home now standing at GBP 158,000.

"Our findings have given us good reason to believe that as we enter the main selling season the market looks far more favourable than last year… it is encouraging to see overall transaction levels up by over 49 per cent," said Bob Cherry, partner at CKD Galbraith.

Mr Cherry said that while buyers are becoming increasingly serious about purchasing, the market remains very price sensitive. Good quality properties in sought after locations are attracting the most interest and selling well, he added.

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