From the beginning of January to the of June 2011 there were over 12,000 properties sold across Scotland through the network of Solicitors Property Centres Scotland with a total value in excess £2bn.
Of all the properties sold in Scotland through SPC Scotland, the ESPC handled over 25% of those, amounting to over 30% of the total value.
Malcolm Cannon, chairman of SPC Scotland and chief executive of the ESPC, said: “This is a huge number of properties and a significant amount of money. These figures clearly indicate that the Scottish housing market is continuing to function.
“It is the first time that these figures have been collated and they show the high value of property moving throughout the country."
Cannon said that while there was no denying the levels were below those seen prior to the credit crunch, it was clear that there was sustained activity especially where sellers were setting realistic asking prices and are open to negotiation.
“One factor helping the market is the Scottish approach of missives. This places the solicitor at the heart of buying and selling property by creating a binding agreement between buyer and seller as early as possible once a price has been agreed. It prevents the long property chains experienced in other regional markets,” said Cannon.
David Marshall, business analyst at the ESPC, added: “It’s a tough market for sellers just now as there are more properties for sale than you would normally see, and the number of people looking to buy is relatively low. Buyers have more homes to choose from and are generally looking around to get value for money, so it’s important for sellers to get the presentation and pricing of their home right.
“Over the remainder of the year we should see a continuation of recent trends with the number of homes selling relatively unchanged, and prices around three to five per cent lower than at this stage last year.
“The market for quality family homes is likely to perform slightly better, whilst the sellers of smaller properties are likely to face the toughest conditions”.
