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Independence uncertainty affects property market

Potential high end property buyers are putting it off until after the referendum. Picture: Neil Hanna

Potential high end property buyers are putting it off until after the referendum. Picture: Neil Hanna

  • by JANE BRADLEY
 

BUYERS of high-value property are putting off purchasing homes in Scotland until after the referendum due to uncertainty about their employment prospects north of the Border and a lack of clarity over Scotland’s currency, high-end estate agencies have said.

They said people with well-paid, mainly private sector jobs, together with English buyers moving to Scotland and also returning Scots who have forged successful careers in England or abroad are worried that a vote for independence could mean the relocation of their workplace or a possible reduction in value of their existing property.

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Robert McCulloch, partner at Strutt & Parker, said: “For buyers in this sector, a vote for independence could mean the relocation of their job or a possible reduction in value of their property. Therefore, it is not surprising that a significant proportion have told us that they are awaiting the outcome of the vote before committing.”

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