News

Market Update 1/7/15

Well its happened, only took 10 years and a lot of procrastinating, but Greece at long last has been allowed to default. As I have said many times in the past, markets need certainty. As proof all stock markets Worldwide gained substantially this morning, the UK by as much as 1.5% on the back of “bad news”!
Certainty.
What a shame we can’t transpose that into our housing market. We are still stuck with the same old argument, are we to have another referendum or not.
Businesses don’t know if they should invest in Scotland, homeowners don’t know if they should take on more commitments and the regular flow of English moving North has slowed. The later hurting our housing market most. They tend to buy up the slack in the middle market, where we are experiencing the worst sales performance. If we can’t move the middle, houses don’t become available for first time buyers.
Uncertainty.
I think that sums up the Scottish housing market today.
Rents are still climbing, inflation and interest rates, never lower. Yet?
Bill Reid BEM BA NAEA DipPFS
Reid Estates
01738237337