Greycoat Real Estate Explains the Housing Industry in Scotland

People are selling properties in Scotland at an alarming rate. Right now, advertisements for properties for sale have gone up by 83%. According to Greycoat Real Estate, advertisements have gone up in Aberdeen, Glasgow, Perth and Edinburgh, but they have gone up significantly in other areas as well. 


For example, in Dundee, rates are up by 81%, and in Inverness, rates went up by 83%. In Inverness, those rates increased by 83% in just one year from August of 2022 to August of 2023. Greycoate agency specialists inform how home buyers seem to be most interested in semi-detached and detached homes. 


In Edinburgh, detached homes were listed at 99% higher, and semi-detached homes were also listed higher at 116%. This trend continued in Glasgow with detached homes at 74% higher and semi-detached homes at 34% higher. In Dundee in particular, Greycoat specialists report, the number of detached homes increased by 128%. 


Since December of 2021, interest rates have been steadily increasing. As a matter of fact, Greycoat assures they increased 14 times between December of 2021 and August of 2023. Even so, the number of properties being listed for sale continues to go up (CoStar). 


The trend is going strong in the major cities with Inverness and Dundee seeing growth in the double digits. According to Greycoat Real Estate, the purpose of increasing the interest rates is to slow down the rate of inflation. This works because people begin to stop purchasing houses, but it isn’t working at the moment. Many homeowners are very interested in selling, and just as many buyers are interested in buying.