Scottish completions up 18%

Scottish completions up 18%




Residential development in Glasgow and the surrounding areas is witnessing a resurgence, according to a new report by Savills….

Residential development in Glasgow and the surrounding areas is witnessing a resurgence according to a new report by Savills…

The Scottish Government’s latest figures also report the number of private sector completions across Scotland in the year to September 2014 was 18% higher than the previous year.

However the number of units completed per year remained considerably below peak levels with Glasgow bearing the brunt of decline, however the market is now stabilising with completions in Dunbartonshire standing 33% above peak.

Both Mayfair Bridging and Hope Capital announced this month that they were launching into the Scottish market.

At the time, Jonathan Sealey, CEO of Hope Capital, said: “With both the referendum and post-election uncertainty out of the way there is a lot of positive sentiment in Scotland at the moment; the number of property transactions is increasing and house prices are soaring.”

“Initiatives such as Help to Buy, combined with favourable mortgages conditions, have put home ownership within reach of many and this has helped to make a number of developments viable and increased demand,” added Savills, the global real estate services provider.

To read the full report click here.

 

Leave a comment