Home

Homeowners fear Brexit price fall

Image copyright Getty Images
Image caption Edinburgh has become an expensive place to buy

A survey of home owners in Scotland suggests half of them believe Brexit will lead to a fall in the value of their property.

Aberdein Considine's Property Monitor found just 3% think prices will rise.

The research indicated 2018 had been a year of growth for the Scottish property market.

Total sales were in excess of £18bn - up £400m on the previous year and the best spell of growth since the 2008 crash.

Aberdein Considine managing partner Jacqueline Law said: "These figures demonstrate that the market has to a large degree recovered from the difficult days of the financial crash but we cannot ignore the uncertainty which Brexit presents.

"Whatever the outcome, families and individuals still need homes to live in and properties will continue to be bought, sold and rented.

"Homeowners and businesses could definitely benefit from a clearer understanding about what the months and years ahead have in store, and hopefully the next few weeks will bring some much needed clarity."

The survey suggested Edinburgh remains the most expensive area in Scotland, with the price of the average home there up by 9.3% over the year to £272,989.

For Scotland as a whole, the average property costs £174,290, after an annual rise of 3.3%.

Aberdein Considine's Property Monitor surveyed more than 1,000 people in Scotland.

Related Topics