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News Release

Edinburgh

Jones Lang LaSalle’s view on how the Budget may impact Scotland’s housing market


Hogg Jason.jpgEdinburgh, 20 March 2013 – Commenting on today’s Budget announcements made by the Chancellor of the Exchequer Jason Hogg, Director Residential & Development Land in Jones Lang La Salle’s Scottish business said:

“The introduction of Government equity guarantee on 95% mortgages to help across the UK, can only be good news for Scotland’s housing market.

“Through our day-to-day work with Scotland’s housebuilders, we are already seeing the positive impact of Scotland’s Mi New Home Scheme, which is supporting more first time buyers on to the housing ladder.

“The recent upturn in housing sales since the beginning of the year now appears to be more of a trend than a blip, resulting in house builders getting through their landbanks at a quicker rate than we’ve seen in years. The logjam of mortgage availability, whilst clearly nowhere near pre-recession levels, has also eased.

“Whilst the devil’s in the detail regarding the new equity guarantee scheme, if it can act as MI New Homes Plus, then I’m certain that it can only help to increase both house building and home buying in Scotland .”