Scotland Property Market Changed Forever

The Scottish property market had always moved to its own ‘rhythm’ compared to the rest of the UK; however the introduction of the ‘Home Report’ to their property investment system last year appears to have changed it forever.

In the past, sellers putting their properties onto the market would invite buyers to put in an ‘offers over’ bid – which had to be at least 25% higher than their original quote - before progressing forwards with a deal.

However, the introduction of Home Reports – the equivalent of HIPs – seems to have dramatically altered this system, as homeowners now have to list a valuation price of their property, meaning they can no longer ‘trick’ property investors into paying 25% more.

As a result, ‘offers over’ have seriously dwindled over the last 12 months as more and more sellers are choosing to market their properties under an ‘offers around’ scheme.

Speaking on this change, property advisors believe this has been a move for the better, promoting a more honest property investment system amongst property investors.

Even following recent property price increases of £10,000 - which suggest that the property market is entering into a period of recovery – they strongly feel the time of 25% premiums to secure a home are definitely over.

Original Article

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Peter Franklin, Property Mentor Delegate

I used to believe stocks and shares were the only way forward, yet after 15 years of property investing, neither of these can compare with the sheer velocity or impact that property investment can have on your bank account. Only with property can you truly experience the power of being in control of immediate cash flow AND capital appreciation. Stocks and shares simply cannot compete. Read more