Rettie's private sector property research team provides thorough and bespoke analysis, based on reliable and up-to-date information, led by Dr John Boyle, who has over 15 years of experience as a property economist. Our researchers provide the very best market intelligence and work across a broad range of projects locally and nationally.
Well, Happy Birthday LBTT, which in April reached the milestone of 2-years-old. It's still not adequately toilet trained and is leaking away Government revenues, but have we grown to love it as it leaves its baby years, or are we getting sick of the tantrums it is causing?
Now that the full year's sales data for 2016 has been released we have been able to review last year as a whole, and look forward to see what trends are emerging in the market this year. Positive growth in the Scottish market in 2016 was constrained by a combination of political and economic events, as well as continuing melancholy in the Aberdeen market. These factors held growth in market turnover back to 1.1% annually.
As winter draws in and the housing market prepares for its seasonal hibernation, it seems an appropriate time to take stock of one of the most significant changes that occurred in the Scottish housing market during 2015 - the introduction of Land and Buildings Transaction Tax (LBTT).
As the Scottish Government is about to produce its new Bill on private tenancies, it seems timely to look at what evidence is out there on how the private rented sector (PRS) is performing and how it is perceived, especially by the people who matter - the tenants living in the PRS as well as the landlords providing the accommodation.
Rent controls have been a much speculated topic in Scottish politics over the Summer. While negatively regarded by most economists, Nicola Sturgeon has recently announced their potential introduction despite 70% of respondents in 2nd Consultation on a New Tenancy for the PRS stating they did not support their implementation.
The latest Rettie Residential Market Quarterly, the most authoritative summary of conditions in the Scottish residential property market, has now been produced. This issue looks back at the residential market over 2014, across all sectors of the market, and looks forward to 2015 and beyond.