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Upward pressure on house prices will continue as long as demand exceeds supply

16 August 2016
Responding to latest Registers of Scotland statistics indicating that the average property price in Scotland rose by 4.6 per cent in June compared to last year, industry body Homes for Scotland said that such upward pressure would continue as long as demand continued to outstrip supply, pushing home ownership beyond the grasp of many desperately trying to get onto the housing ladder.
  
Chief Executive Nicola Barclay (right) also expressed concern over the 16 per cent drop in the volume of residential sales in April 2016 compared with 2015 saying:

“Whilst this decrease in the number of residential sales may in part be a consequence of the new 3% Land & Buildings Transaction Tax supplement on additional homes, the news follows the recently reported drop in vital private sector construction for 2015 and demonstrates that we still have a long way to go before we return to the productivity levels that we need to significantly increase supply.

“Given that the single most effective way to address affordability concerns is to increase the supply of new homes of all tenures, we are calling on the Scottish Government to prioritise housing when allocating its recently announced infrastructure funding, in a move that would also boost jobs and the economy.”




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