08-02-2008
Positive news for Scotland's property market
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
Positive news on the performance of Scotland's property market has been released by the Royal Institution of Chartered Surveyors (RICS).
RICS, yesterday confirmed that in contrast with London, the Scottish housing market is performing well and has been relatively unaffected by the recent worldwide economic difficulties.
The organisation has identified that the UK's capital has suffered from a pronounced decline in overall confidence levels.
Graeme Hartley, director of Rics Scotland, said: "The economy is holding up well and the Scottish property sector is benefiting as a result."
"People here have always taken a more sensible view on the value of property and we haven't had the same peaks and troughs."
RICS has also detected - through reports from affiliated surveyors - that there exists a growing performance disparity between Scotland and other areas of the UK, in addition to London.
A total of 54 per cent of the organisation's member surveyors reported a fall in London's house prices over the last quarter, compared with 19 per cent of those in Scotland.