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