Residential development in Scotland is set for five years of growth says JLL

January 31, 2017

News release yesterday 30th January from JLL, UK’s leading property consultancy headlined, ‘Scottish house price and rental growth in the shadow of Brexit’

According to new research by JLL, residential development in Scotland is set for five years of growth with demand for homes continuing to outpace supply.

Neil Chegwidden, JLL residential research said:  “The challenging perception of city centre living in recent years is likely to mean that Edinburgh and Glasgow will lead the Scottish residential market during the uncertainties of the next few years, despite these being perhaps most vulnerable to unfavourable Brexit effects.

“Housebuilders are more pro-development now than they have been for some time. Encouragingly we are now seeing the re-emergence of smaller and mid-sized housebuilders, They are providing stiff competition to the larger and more established Scottish housebuilders who have kept their toes in the market despite tougher market conditions in recent years.

“This is forcing up land values in key locations and creating a more diverse base of developers but the battle and scarcity for prime city centre sites is also generating opportunities and desire to develop in peripheral locations.

“All of this is positive for the Scottish residential market moving forward. Let us hope that the political and economic landscape does not undermine the drive towards a more normal and sustainable housing market.”

Read the news release in full including JLL residential forecasts for 2017 – 2021 and comments from Jason Hogg, Director of JLL’s Residential team in Scotland click here

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

How to Pick the Best Option for your Business’ Broadband

Having a dependable broadband connection is crucial for any business. Whether you run a small office or a larger company, a slow or unstable connection can disrupt work, affect communication, and reduce productivity. Picking the right broadband package does not have to be complicated, but it does require careful thought about your business’s specific needs…
Read More →
bank of england interest rate
Breaking News

Bank of England Hold’s Interest Rates at 4%

With the Bank of England holding Interest Rates at 4%, here are some thoughts from the Industry. Matt Smith, Rightmove’s mortgages expert: “Ahead of one of the most widely anticipated and discussed Autumn Budgets of recent times, it was unlikely the Bank would go for another interest rate cut so close to the announcement and…
Read More →
Breaking News

England’s south coast sees highest rent increase in UK

Southampton, Portsmouth and Worthing average rent prices rise by +8%, the highest rise in the UK Renters in Yorkshire get the most for their money with UK’s lowest average rents of £978 Landlords didn’t flock to sell up, amidst Renters’ Rights Act anticipation   A report released today from one of the UK’s leading estate…
Read More →
Breaking News

Fewer than 1 in 5 homebuyers find their perfect property

The latest research from Yopa has revealed that fewer than one in five homebuyers would describe the home they purchased as their “perfect property,” with outdoor space and overall size the most common compromises made during the buying process. The survey of recent homebuyers, commissioned by Yopa, found that 58% began their property search with…
Read More →
Breaking News

Average homebuyer travels 330 miles to find their ideal property

The latest research from The Property DriveBuy reveals that the average homebuyer travels 330 miles to find their ideal property when it comes to the distance between their current home and chosen location, as well as the miles clocked up in between viewings. The survey of UK homebuyers*, commissioned by The Property DriveBuy, found that,…
Read More →
Breaking News

Why first-time buyers should start the financial conversation early

Award-winning mortgage adviser, Alexander Hall, is encouraging the nation’s first-time buyers to open up about their finances this Talk Money Week, offering expert guidance on how to make these conversations more natural, productive, and stress-free. What is Talk Money Week? Talk Money Week is a national initiative created by the Money and Pensions Service (MaPS)…
Read More →