Buy to let landlords in Scotland may have "grounds for optimism"

09 August 2010

Written by Steve Olejnik

One expert has said that the housing market in Scotland is picking up, with buy to let landlords possibly seeing the value of their portfolios rise.

A report from the Registers of Scotland showed that property prices in the nation had risen 3.6 per cent in the second quarter of 2010, compared with the first three months of the year.

By the end of June they were at an average of £153,248 - 5.3 per cent higher than at the same point in 2009.

Dianne Paterson, residential property partner at specialist lawyers Russel and Aiken, said that a shortage of supply when it comes to family homes was driving prices higher.

However, she added that it is important financial institutions begin offering mortgages more freely again.

"Until such time as lenders start relaxing their lending criteria we will not see the market returning to the level it was at pre-recession," the expert explained.

Despite this, there are still "grounds for optimism", Ms Paterson continued, as the figures from the Registers of Scotland show that confidence is returning to the market.

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