ANTICIPATION IS BUILDING IN THE SCOTTISH PROPERTY INDUSTRY AHEAD OF A PLANNED RE-OPENING OF THE MARKET BY THE END OF THIS MONTH
First Minister Nicola Sturgeon has confirmed that Scotland will now enter Phase Two of our planned exit from lockdown and this will see a lifting of restrictions on the property market on Monday 29th June.
The market here is bracing itself for a bounceback recovery with a noticeable boost in activity being reported since restrictions were lifted in England recently. This has led to eager anticipation from buyers and sellers alike who’ve been unable to take action during lockdown.
HOW WILL THE MARKET LOOK AFTER COVID?
The market here has now been on pause for 11 weeks and as we now prepare for its re-opening Rettie & Co have released their forecasts on how the market will shape up in the aftermath of Covid-19.
Led by Director of Research & Strategy, Dr John Boyle, the report anticipates a potential short-term fall in values of up to 5% before a quick recovery – which represents good opportunity for buyers.
This carries the caveat that there will also likely be reduced stock on the market this calendar year with only those under pressure to sell during this time likely to do so.
Dr Boyle added “Periods of great change create opportunities as well as threats. Minimise the threats while taking the most of the opportunities. Do your homework as far in advance as you can.”
We firmly agree with this sentiment and continue to offer our complimentary Discovery Call to investors looking to navigate the property investment landscape at this time. (You can select the best time for your call using the button below).
Accessing experienced property professionals is as crucial now as its ever been and our expertise removes the guesswork for investors, allowing a peace of mind and profitable route into property investment.
With the rise in buy to let mortgage options continuing to grow the window of opportunity ahead could be the best time to invest in property in some years.
There are generally two types of investor. Those who take action when opportunities present themselves, and those who “wait and see”. What type of investor are you?
As always please continue to stay safe and we’ll look forward to speaking with you soon.