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Impact of the Referendum Outcome on the Scottish Property Market

The National association of Estate Agents has commented on how they think the outcome of the Scottish independence referendum will affect the Scottish property market.

Managing Director of National Association of Estate Agents, Mark Hayward said:

“With the outcome now certain and Scotland voting to remain part of the United Kingdom, we can expect to see some positive movement in the Scottish housing market” He went on to describe how this positive change would benefit both estate agents and those looking at buying and selling property.

The settled outcome has removed elements of uncertainty making negotiations easier and the market less stagnant. He added:

“Although the outcome does not necessarily guarantee clarity for the market, the mist of ambiguity will clear much earlier than if the outcome to Scottish independence was ‘Yes’”.

He highlighted that it was likely there would be a substantial increase in the activity on the market, particularly in sales and investments, in the next few months as a result of the outcome.

It was also speculated that this might ‘disrupt’ house prices temporarily, but it was not likely to be significantly. He also stated that current concerns surrounding an increase in interest rates and a significant increase in stamp duty are most likely to have more of an impact over the next 12 months.

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