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90pc of property professionals against Scottish Independence

Ryan Fowler

March 25, 2014

The audience of over 300 comprised developers, professionals, agents and lenders were asked a number of questions about the market.

The poll found that 90% of the audience thought that house prices would either fall, or rise less quickly than the rest of the UK, in an independent Scotland.

Some 77% of the audience thought that the number of buyers of £1+ homes, from outside Scotland, would decrease in an independent Scotland. Currently these buyers account for 34% of sales.

Faisal Choudhry, associate director, residential research, at Savills, said: “I was overwhelmed by the response this year. I believe it is testament to the thirst for information about what might happen to the sector in an independent Scotland.

“The private residential property sector has been given scant consideration in the Scottish government’s White Paper on independence.

“This is despite the fact that the Scotland’s market was worth £13bn last year, and that the government collects around £200m per year from stamp duty.

“There remains a lack of information from pro-independence campaigners about the fundamental issues of currency, taxation and mortgages.

“These are the factors that buyers and sellers of Scottish residential property need to be able to consider fully before casting their votes.”

Scotland goes to the polls to vote on independence later this year on September 18.


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