Call us today on 0141 552 9193
GLP News

News, Comment & Opinions on the latest legal stories

Glasgow Law Practice White

Practice made perfect

Optimism remains for the Scottish housing market

More people in Scotland expect house prices to rise than fall over the coming twelve months, according to the latest quarterly Bank of Scotland Housing Market Confidence tracker.

Just over a quarter (28%) of respondents forecast that house prices will rise over the next year, whilst just over a fifth of respondents (22%) predict a decline in prices over the same period.

Nonetheless, the headline House Price Outlook balance (i.e. the difference between the proportion of people that expect house prices to rise rather than fall) eased from +10 percentage points in March to +6 in June.

Despite this slight weakening, confidence in house price prospects remains higher than at the beginning of the year with the House Price Outlook balance in June being higher than the reading of +4 in January. However, confidence in house prices in Scotland remains lower than the average across Great Britain (+15).

Nearly two-thirds of respondents (61%) highlighted concerns about job security as the main barrier to buying a home. Respondents also picked out the challenges in raising a deposit (52%) and household finances (36%) as major hurdles to home buying.