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How will the Brexit Vote affect property market in Scotland?

Whilst the UK struggles to come to terms with the outcome of the EU referendum, those looking to buy or sell property may be concerned about how the property market will be affected by the results of the vote.

Those involved in the property sector in Scotland are expecting a drop in activity as the vote is likely to make buyers and sellers uncertain about moving at this time. Prior to the vote, Chancellor George Osborne stated that a Brexit vote could cause property prices to fall by as much as 20 percent. However, property experts have dismissed this negativity and are positive that the market will stabilise. Moreover, a fall in interest rates could, in fact, mean good news for first-time buyers in particular, but there is no guarantee that this fall will be reflected by the banks in their lending deals.

Historically the property market in east-central Scotland has proven to be remarkably resilient, being less affected by times of uncertainty than other areas in the UK. Whilst sales volumes slowed during both the market crash in 2008 and in the lead up to the Scottish independence referendum, property prices remained reasonably stable.

Here at MacArthur Stanton, we want to put your property concerns to rest and make sure you are confident going forward with your property transaction. Contact us today to find out more how we can help you.

Contact McArthur Stanton –Conveyancing Lawyers Dumbarton and Helensburgh

If you require advice or assistance regarding a property transaction contact our expert team today. Give us a call or fill out our online enquiry form and one of our team will get back to you.

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