Scottish housing market new homes sales bulletin – July 2013
The latest of our new homes sales bulletins has been released. The findings have come from our carefully researched data courtesy of the Rettie & Co Research Team. Read on for the key messages or download the bulletin below to see the figures in detail.
- Scotland is still emerging from full scale of housing slump, which has significantly hit new home completions, construction jobs and the wider economy.
- There are some encouraging signs of ‘green shoots’, particularly on new build starts. Sales activity is also improving and government stimulus packages are likely to have an impact. We are confident that there is now a perceptible pick-up in the market, probably representing a very good time for people to buy.
- Sales of homes at the right price are moving – indeed it is often easier to get finance on new build compared to the second hand market as house builders are assisting buyers with incentives. Good locations are performing particularly well.
- Larger house builders funded by private equity and the banks are able to buy land again and more deals are now being done, but the SME sector is still hugely constrained. Smaller house builders (under 1,000 homes per annum) are still finding it very difficult to get funding.
- Strategic and regeneration sites remain very difficult to deliver.