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Predictions for further house price drops in Scotland

 

Experts predict that Scotland faces further house price drops over the coming months.  Figures from RICS housing market survey for May 2011 showed the average number of completed sales fell in the three months to May 2011, meaning that the hoped for spring bounce in the housing market failed to occur.

 

Buyer interest remains flat over the much of the country and there are no visible signs of this situation changing in the foreseeable future. 

Economic uncertainty and the lack of mortgage finance are playing its part in the continued falling house prices with Seller’s now having to re adjust their price expectations in order to gain any interest in their properties.  Sellers continue to face a challenging time as the number of new buyers registering interested continues to decline and with prices set to drop even further over the coming summer months the outlook for home sellers is pretty bleak.

 

13:24 14/06/2011