Referendum having ‘little impact’ on property sales

There has been at least one confirmed report of a potential sale of a local house to a buyer from south of the border as being conditional on a ‘no’ vote being delivered when Scots go to the polls in September.

But, giving his reaction, David Kilshaw, of estate agents Cullen Kilshaw, says this is the first he has heard of such a phenomenon actually happening – a buyer making an offer conditional on the outcome of the referendum.

“I am a member of a working group consisting of lawyers from across the country currently looking at the creation of a standard offer for use across Scotland, and at a meeting about 10 days ago, one member of the group did air this issue, but no-one present had a record of it actually happening,” he said.

And Mr Kilshaw says the local Borders property market has improved over the last year: “It’s definitely an improving market – a big boost came from help for first-time 
buyers.”

Simon Brown, head of residential sales at CKD Galbraith, said to date, there has been no dramatic effect on the residential property market, other than perhaps at the very top end where some vendors and purchasers may be holding off until the result is known.

“At a domestic level, with uncertainty, there may be more likelihood of a wait-and-see approach, but demand remains high and prospective land reform legislation – regardless of the outcome of the referendum – is more likely if anything to be a factor in people’s decision-making than the outcome of the referendum itself,” he told us.