Greycoat: An Unexpected Increase In Home Listed For Sale Cross Scotland
The United Kingdom real estate market has been shining over the past week, resulting in an increased number of properties listed in Scotland. According to Greycoat Real Estate, there has been up to 83% increase in properties advertised across some parts of Scotland.
The real estate agency found that properties in Inverness increased by 83% from August 2022 to August 2023. The same period saw a 45% increase in Edinburgh, an 81% increase in Dundee, a 17% increase in Glasgow, and a 22% increase in Perth. However, Greycoat specialists state, Aberdeen experienced a 5% decrease in properties listed for sale in the same period.
The central belt experienced the most significant increase in the detached and semi-detached homes listed for sale, Greycoat recalls. Edinburgh experienced a 99% rise in detached house listings and a 116% increase in semi-detached listings, while Glasgow experienced 74% and 34%, respectively. On the other hand, Dundee saw a 128% increase in detached homes, while Scotland had an even increase across all types of properties.
Greycoat Real Estate explains that the increase in properties for sale across Scotland comes even after interest rates increased 14 times since the end of 2021. The firm continued to state that significant cities continually experience an outstanding double-digit growth, with Dundee and Inverness recording nearly 100% more listed properties for sale than a year before.
They also stated that the August figures are among the top four of any month in terms of volume over the past 30 months. That indicates homeowners still have a great desire to move home when experts felt this would be a quieter time in the market, Greycoat agency finally comments. The firm believes increasing interest rates will help reduce inflation by decreasing the sector’s demand. However, there has still been an overwhelming rate of buying and selling properties from homeowners.