Sales market bounces back in the Summer | Sales Bulletin
The latest of our sales bulletins has been released. The findings have come from our carefully researched data courtesy of the Rettie & Co. Research Team, Scotland’s largest dedicated property research department.
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• There are strong signs that the Scottish housing market has bounced back over the late Spring and Summer, with a 9% increase in market turnover in Q2 2017 compared to a year previously and a jump in LBTT revenues in June and July, suggesting that Q3 growth will be stronger still.
• This rise in market activity seems to have been driven by higher levels of lending and a surge in home movers, with lending to home movers in Scotland up 18% year-on-year, and the highest total number of loans for any quarter since 2007.
• Despite this, there remain challenges for first time buyers to enter the market, with a deposit for the average priced house in Edinburgh taking around 11 years to save for based on median pay.