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How will the Referendum Outcome Affect the Property Market?

The National association of Estate agents has provided some insight on how the “No” vote will affect the property market in Scotland. The Managing Director of National Association of Estate Agents, Mark Hayward said:

"Although the outcome does not necessarily guarantee clarity for the market, the mist of ambiguity will clear much earlier than if the outcome to Scottish independence was 'Yes'”.

He described that it is likely that there will be some increase in activity in the market especially in sales and investment. He added:

"With the outcome now certain and Scotland voting to remain part of the United Kingdom, we can expect to see some positive movement in the Scottish housing market”

This ‘positive movement’ will benefit both estate agents and prospective buyers or sellers – the removal of some uncertainty as a result of continuing to be part of the UK , negotiations may become easier as well as creating greater fluidity in the market after a quiet period.

Furthermore, while it is anticipated that this increased activity will disrupt house prices, this will be temporary and not particularly significant. In addition, it is likely that concerns expressed around an increase in interest rates and stamp duty will have an effect not immediately but over the next 12 months.

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