Estate agents: ‘No vote will boost Scottish housing market’

The National Association of Estate Agents says the No vote on independence will give potential buyers greater clarity and serve as a boost for the Scottish property market.

NAEA managing director Mark Hayward says the vote will lead to a “less frenetic housing market” and will spark an increase in activity levels.

Hayward says: “With the outcome now certain and Scotland voting to remain part of the United Kingdom, we can expect to see some positive movement in the Scottish housing market – good news for Scottish estate agents and their customers who can now look forward to a less frenetic housing discussion and market.

“Although the outcome does not necessarily guarantee clarity for the market, the mist of ambiguity will clear much earlier than if the outcome to Scottish independence was ‘Yes’.”

Hayward adds that increased volumes may lead to price disruption in the Scottish housing market but says existing fears around interest rates and stamp duty will play a larger role in shaping the market.

He says: “There is likely to be a substantial increase in market activity in the coming months, with an increase seen in the volume of sales and investments. This could disrupt house prices in the short-term, although not significantly.

“The existing concerns around increases in interest rates and a significant hike in stamp duty will undoubtedly have a bigger impact over the next 12 months.”