How the Scottish market will fare with independence

The Scottish residential market has been firm during the past decade, with prices rising strongly to June 2014. The Registers of Scotland data suggests that sales volumes dropped a significant 24% between Q4 2003 and Q4 2013, yet overall prices have risen 49% in the same period according to the Halifax average price index. In all market sectors at present, the subject of the independence referendum is dominating the conversation, with an answer due next month how will the Scottish market fare with independence?

The Nationwide Q2 2014 average house price in Scotland currently stands at £141,872, up from £105,855 in Q2 2004. The Registers of Scotland estimate that the value of residential sales from April 2004 to April 2014 totalled £148.7 billion.

At present, the uncertainties around the outcome of the referendum on the 18 September are having different effects on the market. In central Edinburgh, demand for two to four-bedroom properties at values of between £150,000 and £600,000 is higher than it has been for several years, with sales being achieved quickly, and often at premium prices at closing dates for best and final offers.

Read the full Scottish Referendum paper.