The Scotland housing market has seen ups and downs in the past few months with a common denominator highlighting the entire span of time – low consumer confidence.  Unknowing the outcome of the EU financial debacle has set the attitude in motion and it has not slowed down for some time.  Housing activity has been affected primarily by the low amount of optimism.  Original loans as well as remortgages are still nowhere near the levels seen in 2007, but an improvement in both has taken place since the slowdown immediately following the summer months.

Although activity is still struggling to improve within the Scotland housing market, a recent survey by the Royal Institution of Chartered Surveyors indicates possibly favorable opinions are beginning to surface.  The number of houses placed on the market for sale improved during the month of November.  The RICS report also displayed a slowdown in the rate of falling house prices compared with the spring of this year.

London house prices experienced upward movement compared with other regions and Northern Ireland and Wales continued to see falling prices.

Not only are original loan numbers falling which is typical for this time of year, remortgages remain an untapped area which can offer huge benefits for those homeowners who qualify.

RICS Scotland director Sarah Speirs commented on the Scotland market, saying: "There is certainly some optimism creeping back into the housing market in Scotland, and it is encouraging to see an increase in potential buyers across parts of the country where the market has particularly suffered in recent years.  That said, there is still a long way to go and the long-standing barriers to home ownership are still very much a problem for the likes of first-time buyers.”