More than £30,000 could be wiped off the average property price in Scotland in the event of a “yes” vote on Scottish independence.
Scottish house prices have grown on average by 8.3 per cent over the past two years to £177,599, but Zoopla, the property website, warned that this could be more than reversed. The cost of a home dropped by 17.5 per cent in Scotland during the financial crisis and it fears a repetition.
Zoopla said that property pricing is a function of supply and demand, and with the recent announcements by a number of large businesses of their intent to move south of the border after a “yes” vote, it could increase the supply of available properties while negatively impacting demand because of