(PRWEB UK) 31 August 2012
The Scottish property market is heading into the Autumn spell on the back of impressive house sales across all sectors.
The country’s leading new house builder, Persimmon, has just announced a 65 percent leap in company profits as a result of increased sales and rising sale values.
It’s a similar story at rival firms, Taylor Wimpey, Barratt and Bovis who all produced encouraging results in August.
Barry Chuwen, founder of Scottish house sale experts Move Quick, said that a similar seam of confidence was running through his Scottish-based business.
Said Barry:”We have been exceptionally-busy towards the end of the summer.
“We suspect we are beginning to see house buyers and sellers realising they can’t hold off forever.
“In the summer quarter, we have sold in excess of 75 percent of the properties we had in stock and we are also noticing that they are being snapped up much quicker.”
A further boost to the market was provided by the Office for National Statistics, which admitted towards the end of August that it had been unduly pessimistic about the performance of the UK economy between April and June.
Previously, the ONS had calculated that things had contracted by 0.7 percent in the quarter. But new figures show that it had under-estimated the performance of the construction sector and revised the contraction figure to 0.5 per cent.
“The production sector was not quite as bad [as we thought]; similarly the construction sector,” Joe Grice from the ONS told the BBC.
House hunters have also been encouraged by a mortgage war that broke out in the summer of 2012.
It was sparked by the Bank of England launching its Funding for Lending scheme, which will open the floodgates to £80 billion worth of extra loans for consumers and businesses.
HSBC kicked off the conflict by offering a five-year fix at just 2.99 percent, quickly followed by an identical offering from Santander.
Around the same time, Scotland saw a sharp rise in purchases by first time buyers. The Council of Mortgage Lenders in Scotland said activity in this sector was 20 per cent up, bucking the overall trend in the UK.
Added Barry Chuwen of Move Quick:”There are lots of indicators coming together that suggest we are going to be very busy in the Autumn months of September, October and November.
“People are prepared to do deals and there is a wealth of fine property available across Scotland. You just need to Move Quick.”
Move Quick is a dynamic property company, providing bespoke house selling solutions throughout Scotland.