A Tayside property expert is “cautiously optimistic” property prices will increase this year.
Lindsay Darroch, head of property at Blackadders, is predicting there will be a 10% increase in market activity this year with house prices rising by around five per cent.
He is also predicting more property investors will enter the Tayside market in 2015.
“I believe that there will be an increased improvement in 2015, although my mantra is cautiously optimistic,” he said.
“I would once again be predicting a 10% increase in market activity with a slight increase in house price, probably averaging around the 5% mark.
“I think lenders will continue to grow in confidence and that there will be an increase in property investors.
“This will assist in relation to clearing some of the glut of first-time buyer properties and also improving the quality of properties available to the increasing number of people who are looking to move property but cannot afford to buy so will need to rent.”
Mr Darroch said he is concerned about what effects economic problems in the eurozone could have on British banks’ attitude towards mortgage lending.
He added that this May’s general election shouldn’t bring with it the same amount of uncertainty as last year’s referendum, although he does have concerns about the introduction of a mansion tax.