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Last Updated: Saturday, 16 July, 2005, 14:31 GMT 15:31 UK
Owners predict house value rise
Homes
Most of the homeowners surveyed expected their house value to climb
More than half of all homeowners in Scotland expect their property to increase in value over the next year, according to a survey.

The Clydesdale Bank's housebuyers' survey said 57% of those questioned expect their house value to climb.

About 27% expect to see little change in price, while 3% predicted their house value would drop.

And 15% think the market is slowing because "offers over" prices are putting potential buyers off.

The survey found 18% of homeowners opted to improve their current home rather than moving, while 16% believed adding an extension or garage conversion was a more practical way of getting extra living space.

It appears buyers are putting a potential home and its neighbourhood further under the microscope
Steve Reid
Clydesdale Bank

Of those surveyed, 15% think the market is slowing because estate agents are suggesting "offers over" prices that buyers are unwilling to pay.

The survey also found that one in four buyers check local crime figures before putting in an offer on a property.

Glasgow estate agent John Davidson said: "It's an interesting point. We're seeing a lot of regeneration throughout Scotland now, with commercial areas turning back into residential.

"It's where people can't necessarily ask friends and family what a community is like or how nice an area is to live in.

'Market optimism'

"We have seen, on the other hand, a great deal of optimism in the property market in Scotland as a whole.

"House prices are continuing to rise, interest rates are more steady and we see a lot of possibilities for the future."

Steve Reid, general manager for retail banking at the Clydesdale, said: "The main criteria for housebuyers used to be the suitability of the house itself.

"But with property prices still rising, it appears buyers are putting a potential home and its neighbourhood further under the microscope to ensure their costly investment really is a good one for the long-term."




SEE ALSO:
House price rise leads rest of UK
12 Apr 05 |  Scotland
Bellshill tops house price table
29 Dec 04 |  Scotland
Average house price tops 100,000
19 Nov 04 |  Scotland


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