Scotland's housebuilding sector remains 'strong and confident'

30/10/2018 16:13:15

More evidence abounds of Scotland bucking property trends being experienced elsewhere in the UK, according to a new report.

Scotland’s housing surveyors are still busy with work despite construction industry fears over Brexit.

According to the Royal Institution of Chartered Surveyors' (RICS) latest figures, 10% more chartered surveyors reported that their workloads in Scotland had risen rather than fallen (up from +7% in the first half of the year).

Private housing workloads improved in third quarter with 27% more respondents reporting a rise rather than a fall, up from +17% the first half of the year.

Elsewhere in the UK the outlook is far from clear, with Brexit-related indecision adding considerably to uncertainty and the pace of growth expected to decelerate due to cyclical market conditions.

North of the border, however, housing sector activity was strong, with respondents here reporting growth in private and public house building – with 27% and 18% reporting increased workloads respectively.

The survey also reports 75% of surveyors saying financial constraints are the most significant impediment to growth.

Anecdotal evidence suggests the difficulties to accessing bank finance and credit, along with cash flow and liquidity challenges are the main reasons for hampering current growth throughout the UK.

Among the drivers of growth in Glasgow is a ‘mass exodus’ of digital entrepreneurs from London because of its reasonable house prices, great quality of life and high potential for growth.

The city was placed second top of a recent list of UK cities that are attracting tech-start-ups from the Capital, enticed by its excellent work/life opportunities.

A study of Britain’s ‘digital ecosystems’ looked at average house prices, sector growth potential and the number of tech jobs in each region to rank ten cities crucial to the UK’s digital economy.

If you’re looking to buy or sell a house contact your local Scottish Property Centre branch or visit: https://www.scottishpropertycentre.net/

 

 

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