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Scotland has spoken

What now for the property market?

History was undoubtedly made in the early hours of Friday 19th September 2014 as the results of the independence referendum were revealed. After months of crippling uncertainty there was palpable relief in many parts of the country, and not least of all in the north east of Scotland.

Although in recent years we have been privileged to have enjoyed a fairly steady and buoyant property market, largely immune to the economic influences which have affected Glasgow, Dundee and Edinburgh, the last couple of months have seen a definite slowing in the second hand housing market.

Many Scots, no doubt fearful of a post-independence turmoil which could have left their plans in disarray, have deferred making big financial decisions and moving house has certainly been a major concern.  Now the picture is more clear, however many house buyers and sellers may well have the confidence to finally make their move.

Although sellers continued to receive enquiries and many buyers accessed Home Reports online, in August and September the uncertainty of the referendum put many business decisions on hold.  It is hoped that a renewed confidence will ripple through the housing market and that as we move through autumn as more houses come up for sale and with increased competition amongst lenders, we could see a busy end to the year.

Although there was no guarantee that a “yes” vote would definitely have had a negative effect on the property market, a lot of people have definitely waited for the results of the referendum before deciding whether to buy or sell.

The coming weeks will hopefully see an end of year surge in the Scottish property market with a bit more optimism and stability around than earlier in 2014.

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