Values increasing

Sales rise defies home owners fears over Brexit

Aberdein Considine sale

Home sales continue to increase

An increasing number of Scots fear their property will decrease in value after Britain leaves the European Union – despite sales being higher than last year.

Twenty-one of Scotland’s 32 local authority areas saw higher prices in the third quarter, according to Aberdein Considine’s Property Report.

Even so, Jacqueline Law, managing partner at Aberdein Considine said there has been a sharp increase in the number of Scots who fear Brexit will result in home values plummeting.

“This is perhaps unsurprising given the Prime Minister’s no deal-brinkmanship throughout the month of October, combined with warnings from the Bank of England Governor on the damage no deal would do, particularly to the housing market,” she said.

“There is clearly homeowner anxiety around Brexit, but this has yet to be reflected in sales figures, perhaps due to the greater public having little idea what Brexit will actually look like.

“With another extension in place, we would expect to see these fears ease in Q4 as a new Parliament is elected. The make-up of that parliament will have a big say on what market sentiment will be going into Q1 of next year.”

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