Scottish property market ''poised for steady growth in 2008''
Thu 17th Jan, 08:04:37 GMT
Scotland looks set to see "steady growth" despite a cooling market in the rest of the UK, an expert has commented.
Grant Robertson, a director of Allied Surveyors Scotland, explained that the Scottish economy was helping drive price increases, with the cost of a home expected to rise by between five and seven per cent this year.
"I think we''re going to see some steady growth this year we''re going to be reasonably well protected from the downturn which is obviously affecting everywhere else in the country outside of central London."
Although he said the different way in which the property market works in Scotland is one reason behind its ability withstand the current slow down, Mr Robertson pointed out that affordability is "the most important factor",
He explained the average earnings against average borrowings of people in Scotland is "steadfastly" below the national average.
Mr Robertson is not the first to highlight Scotland''s potential for growth in 2008, with Halifax predicting that Lochgelly Paisley, Greenock and Abderdeen will see the highest price growth of any town in the UK this year.
Grant Robertson, a director of Allied Surveyors Scotland, explained that the Scottish economy was helping drive price increases, with the cost of a home expected to rise by between five and seven per cent this year.
"I think we''re going to see some steady growth this year we''re going to be reasonably well protected from the downturn which is obviously affecting everywhere else in the country outside of central London."
Although he said the different way in which the property market works in Scotland is one reason behind its ability withstand the current slow down, Mr Robertson pointed out that affordability is "the most important factor",
He explained the average earnings against average borrowings of people in Scotland is "steadfastly" below the national average.
Mr Robertson is not the first to highlight Scotland''s potential for growth in 2008, with Halifax predicting that Lochgelly Paisley, Greenock and Abderdeen will see the highest price growth of any town in the UK this year.
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