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Property activity in Scotland 'to increase'
2009-01-12
Increased activity in the Scottish property market has been forecast by a leading property agency.
Simon Rettie, managing director of Rettie & Co, a property firm whose operations include lettings in Scottish cities such as Edinburgh and Glasgow, said more people could be looking to move house from the end of February.
He said an improvement in confidence will see more people "wishing to move on", although the exact timing of a boost in transactions is hard to predict.
Greater trading activity in the country's property market could generate new opportunities for buy to let mortgage holders to expand their property portfolios as new homes become available.
"I expect that just through sensible desire of people...come the end of February to early March there will be an improvement in confidence of people wishing to move on," Mr Rettie commented.
The effect this trend will have on house prices in the country is yet to be seen, but the property industry expert said the firm is "remaining optimistic" for better trading conditions and volumes in 2009.
His predictions come after figures released by Nationwide this month showed a 0.1 per cent increase in Scottish house prices during the fourth quarter of 2008.
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