Christine Campbell, Your Move managing director in Scotland, said:
“Our figures highlight that whilst average house prices continue to rise, it is first time buyers who are driving the market as they continue to take advantage of ongoing low interest rates and relatively low deposit requirements. They hold the ‘key to the door’ and as such, are influencing local markets which is leading to greater balance in prices amongst Scotland’s major cities.
“While the election result may have come as a surprise to some, it is imperative that
demand for first time buyer properties is met with increased supply through new builds
and that confidence in the market is restored to encourage activity across the board.”
Alan Penman, business development manager for Walker Fraser Steele, one of Scotland’s oldest firms of chartered surveyors and part of the LSL group of companies, said:
“While it’s encouraging to see the demand from first time buyers, we need to address the fundamental weakness in supply of housing stock in Scotland, as elsewhere in the country. The elections in June should bring new housing policies and initiatives which we hope will bolster Scotland’s market.”