Investment Property News

The Scottish residential property market is seeing its highest quarterly lending levels since the middle of 2008, according to the latest data from the Council of Mortgage lenders.

An increasing number of borrowers took out a mortgage loan for house purchase in the third quarter of 2013 and first time buyer and home mover levels also rose with overall home owner lending for house purchase increasing by 23% year on year. The full article can be read at the Council of Mortgage Lenders website.

Tenancies are lasting longer and landlords are increasing their portfolios as the private rental sector continues to grow, according to the National Landlords Association.

The research shows that 54% of tenancies are now lasting between two and three years, and 32% last longer than four years. It also showed that 10% of landlords had added to their portfolio in the last quarter, compared with 8% in the previous quarter.

A total of 22% said they would look to purchase more property in the coming year.

According to the Centre for Economics and Business Research (CEBR) house prices in Scotland are forecast to soar by more than 25% in the next five years. The predicted rise will see the average price of a home in Scotland rise by nearly £50,000 between now and 2018. The rise is expected to be driven by the fundamentals of demographics, recovering economy and the populations need for more homes. The Bank of England’s forward guidance on base rates should also anchor mortage costs and so support house price growth. The full report can be read at CEBR.

From their experience of marketing over 10,000 properties per annum, the Edinburgh Solicitors Property Centre have produced this video of top selling tips to help maximise your property sale. For more information on maximising your property sale call or email Investment Property Agency.

The Bank of England has announced it will not increase interest rates until unemployment in the UK falls below 7 per cent, which could take up to three years.
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