Blackadders property chief sees another subdued market in 2012
A Tayside property firm partner is predicting the local housing market will be ''very subdued'' for the time being.
- Published in the Courier : 12.01.12
- Published online : 12.01.12 @ 01.22pm
Lindsay Darroch, partner and head of property services at Blackadders Solicitors, anticipates first-quarter activity levels will come close to the low point of 2009.
Mr Darroch said: ''My feeling is that with the sovereign debt crisis rumbling on, further public-sector cuts and banks continuing to tighten up on lending criteria, quarter one and quarter two of 2012 will be very subdued...
''I am also anticipating the faltering recovery in America will start gaining more traction during quarter two of 2012 with the feel-good factor of the presidential election in November impacting on the year-end.
''By quarter three we will start seeing a steady increase in property market activity levels with quarter four ending on a high point.
''Overall I predict activity levels finishing at the same levels of 2011 but with a much slower start. As with 2011 my feeling is that property prices will remain stable.''
He is calling for more assistance for first-time buyers with government guarantee funded by compulsory introduction of mortgage indemnity premiums.
Mr Darroch wants to see tax breaks for property investment and more money for social housing.
He has also called for home reports to be abolished or at least temporarily suspended or alternatively remove the valuation element of home reports and leave them simply as a report on the condition of a property.
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