| Comment | lack of mortgage availability, 85% LTV is all you can get now, which pushes a lot of FTBs out of the market. As soon as that happens it fucks the chain. Also a lot of properties came on the market at once after lockdown so saturation. Mad prices don't help, fuelling a general desire to 'wait and see' if the price drops, which won't matter if you can't get a mortgage anyway.
Having said that property in Glasgow is still undervalued compared to other major cities in the UK and demand is not going to go down any time soon, so if/when we see the light at the end of the tunnel re: COVID it will once again go crazy. |
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