BUYERS have been advised to purchase homes now in order to beat an inflation increase next year following a rise in housing prices throughout Scotland.
Across the country annual house prices have grown by 12% on last year according to the UK House Price Index Scotland, with +2.4% monthly price change in 2020.
Responsible housing developer, Dundas Estates, is offering individuals the opportunity to securely reserve homes 12 months in advance, enabling prospective buyers to be protected from further price rises in the near future.
Craig Fairfoull, Head of Sales & Marketing at Dundas Estates, said: “If the rate of the current market price is to grow into next year, prospective buyers could be detrimentally affected by cost inflations.
“An additional 10% price increase year-on-year could mean the difference of individuals only being able to afford a three-bedroom home instead of a four-bedroom.
“Dundas is quick to recognise this issue and the difficulties it may bear on many growing families. With that in mind, we are releasing properties further in advance than ever before to protect the interests of house hunters’ wallets.”
The average cost of a house in Scotland soared from £155,329 in June 2020 to £173, 961 in 2021 according to national statistics.
The UK House Price Index 2021 statistics revealed there has been a 14.2% rise in inflation to the cost of detached houses on the previous year, and a 12.6% increase to semi-detached properties in Scotland over the same period.
Prospective buyers in Edinburgh may be facing increasing concern, as the report details that Edinburgh is the most expensive area in Scotland to now buy a property, with the average house price at £303,000 and only steadily increasing.
Despite these figures, housing is at all time high demand in East Lothian, with the provisional volume estimate for the local authority in April 2020 being 58 to now 144 in April 2021.
Craig, said: “The time to buy is now. If prospective buyers continuously put off purchasing in this current market it may prove difficult to purchase their dream homes in the years to come.
“Buyers will find that even within a short period of time, their money will buy them a lot less house than the year prior, and that is what we want to prevent.”
Dundas is urging people to reserve these homes and buy immediately, in order to obtain their housing criteria financially in such a lucrative market, and to avoid disappointment.
Dundas Estates is a multi-award winning, friendly and independent homebuilder which creates homes that make people feel great. It is proudly independent and Scottish-owned, with a track record of building well-designed homes.
To learn more about Dundas Estates, call 0345 853 5000 or visit: https://www.dundas.co.uk
