Spring Outlook27 Apr 2017
It did feel like Spring was coming, until today, but let’s not get too disappointed about the recent hailstone showers and plummeting temperatures.
More positive news would be the upsurge in activity on the market, both for Sales and Letting following Easter.
The rental market has been enjoying steady rent increases over the course of the last year for nearly all properties; some of the high end properties have taken slightly longer to go, but there is still good demand. What we are seeing however is that the standard demanded by tenants is ever increasing and re-investment in properties in order to maintain these standards is increasingly important.
The sales market has also seen many new properties come to market recently, and many of these have sold at first or second viewings with offers in excess of the Hone report value. It would be fair to see that we are perhaps seeing stronger growth here than in the rental side at present. (It would be worth noting that this is following trends in other years).
So what is set to follow – many Landlords are looking at their options following the introduction of the tax changes and of course the recent 1st phase in period for this, so it would be natural that we are seeing more coming to market for sale. That said with the great mortgage rates on the market at present, there is growth in the buy to let / investor market which we believe will see further growth throughout the year.
If you have any property that you are looking to let or sell, then please contact us for further advice on Glasgow 0141 221 7993 or Edinburgh 0131 221 9131.