It seems that the less prominent locations in Scotland is enjoying growth in home sales. According to a recent report by propertywire.com, "Secondary Scottish locations have come to the forefront of the property market in the year to June with sales in Glasgow, Dunbartonshire and Argyll and Bute increasing."
The sales in these regions were higher than in Scotland's other areas and regions combined. In this period, the buyers are now looking outside the primary locations to search for more affordable and attainable property that are of prime quality as well. According to a previous report by gaspark.co.uk, "These secondary locations have benefitted from the UK government's help to buy mortgage guarantee scheme and the Scottish government's new build scheme." The scheme consists of a £250,000 price limit applicable to greater numbers of properties than in more expensive core areas as further reported by gaspark.co.uk.
The areas that profited from the momentary increase in supply was Glasgow City and West Dunbartonshire. The private segment house construction completions were up by 44 percent and 75 percent that led to the increase in transaction levels. However, the increase in home sales did not reach other areas.
As an illustration, "The traditional primary locations such as East Renfrewshire, and Aberdeen City have suffered from a lack of supply and are subsequently lagging in terms of activity, although prices have remained stable" as stated in a report by propertywire.com.
Despite the increase in home sales, the real estate property of Scotland should not be complacent. According to a past report by propertywire.com "Looking ahead, the scaling back of government initiatives and continued lending constraints could prevent significant growth in Scottish sales levels."
The growth is not that much, but it is home sales growth nonetheless. Consequently, transaction levels are not likely to show double digit growth in the year to June 2016, but there is always a percentage of home sales growth for that year as reported by propertywire.com.
