Scotland housing market stagnates but future bright for members

A report from the Bank Of Scotland, featured by the BBC, showed that the housing market in Scotland continues to flounder with just 15,300 homes being sold between January and June 2018, down by 6% from 16,200 in 2017. 

This is in line with the total number of EPCs in the same period reducing from 117,311 to 108,082, a reduction of 8.5%

Bank of Scotland mortgage director Graham Blair said: "Despite an uplift in the number of people moving in 2017, the home-mover market has stagnated in the first half of this year. The low availability of the 'right type' of homes for those looking to move up the housing ladder may have constrained market activity."

Elmhurst has made this observation before. The volume of new house building is at recent high at 200,000 properties in the last 12 months, but with focus on first time buyers, the typical domino effect on the residential sales market has not occured.

Fortunately Elmhurst Members in England and Wales are being given a boost of EPCs in the rental market, as a direct response to the new government legislation Private Rented Sector/Minimum Energy Efficiency Standards (PRS/MEES). The total volume of EPCs so far this year is 35% up on 2017.

Scotland has yet to benefit from new rental legislation but when the full impact of the ground breaking consultation "Energy Efficient Scotland Consultation: Making our homes and buildings warmer, greener and more efficient." is felt this will undoubtedly give a boost to our Scottish members

For the full story from the BBC click here

Article Published: 30th July 2018

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