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Buyers property market in Scotland good for investors

Despite property markets in Scotland remaining steady and house prices continuing to rise in some areas, Scott Brown, Estate Agency Partner with Warners, believes that the slowdown has created an ideal climate for buyers to enter the market as there are fewer competitors to bid against for properties and sellers are more willing to negotiate over price.

'We are very much in a buyers' market which is great news for anyone on the hunt for a property. As long as you can afford the asking price it makes sense to look to buy just now. There is less competition for properties, you have a wider choice and there is a chance to negotiate price or terms with sellers,' he said.

'Previously, buyers would have to compete against each other and it would drive the price up, as each would be looking to put in a higher offers-over price. These days, there are more fixed price homes and more people selling than buying, so it is an ideal time to explore the market especially for first-time buyers,' he added.

Scott said that despite the ongoing credit crunch and reports that the housing market is in decline, owning property remains a high priority for many people and should still be seen as a solid investment.

Sellers, who are being badly affected by a stagnant market caused by a lack of buyer activity, can also benefit by the trend. 'Our advice to sellers is to be realistic. They have to realise that the slowdown means they are unlikely to secure the price they would have expected for their property say 12 months ago. But measured over the last five or ten years, it will still be a significant gain,' he said.

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