Consumers remain optimistic about the prospects for the Scottish housing market
19 July 2012
More people in Scotland expect house prices to rise than fall over the coming twelve months, according to the latest quarterly Bank of Scotland Housing Market Confidence tracker. Just over a quarter (28%) of respondents forecast that house prices will rise over the next year, whilst just over a fifth of respondents (22%) predict a decline in prices over the same period.
Nitesh Patel, housing economist at Bank of Scotland, commented:
"Confidence in the Scottish housing market has weakened a little over the last three months, reflecting the increased uncertainty regarding the economic outlook. The public's confidence in the housing market, however, has been very resilient so far this year. This is consistent with the broad house price stability experienced over the first half of 2012.
"Overall, we expect little change in prices and sales over the remainder of the year, provided that the Scottish economic outlook does not deteriorate significantly."