WHY THERE MAY BE A PROPERTY BUBBLE AHEAD IN SCOTLAND, ACCORDING TO THE TIMES

Writing for The Times, journalist Gabriella Bennet has a look ahead st what may be ahead for the Scottish property market.

On kicking the year of afresh, Bennet writes that “between the Brexit stalemate drawing to an end and the Scottish parliament election looming next year, 2020 promises to be a year of change. Over the coming 12 months the Scottish political parties will begin to drop hints about their housing manifestos, with homeowners and landlords poised to make a decision on who to vote for based on which policies their views align with.”

In general, things look positive for Scotland which seems to be outstripping the rest of the UK as the fastest area for price growth going into 2020. In fact, Nationwide, Halifax, Zoopla and Rightmove all predict UK-wide price increases.

Savills suggest that prices in Scotland may grow by as much as 20% across the next 4 years, a suggestion which is well evidenced by a 14.5% growth in Glasgow prices since 2015.

Corum’s Managing Partner, John Kelly, also thinks that good times await – particularly for the new build sector. He states that “The biggest challenge to the market is a lack of stock, particularly in and around the centre of Glasgow. Developments such as City Garden Apartments provide superb quality and standard of property to a hungry market that has been somewhat starved of quality property to purchase on the residential market”.

Bennett also flags City Garden Apartments as the new-build project to watch out for, she writes “two trends jump out of the new-build sector for 2020 — painstaking restorations of old buildings with every original feature intact and a renewed interest in wellness. On Glasgow’s St George’s Road, buyers at City Garden Apartments will be able to practise meditation in the biodiverse “sensory garden” at the core of the development. Wildflower planting and a bee hotel keep residents in sync with nature — as do the bird cameras, which can be accessed from a smartphone. Prices start from £197,000 through Savills and Corum.”

You can read the full article HERE.

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