Scotland's slow economic growth through 2015 and early 2016 was attributed mainly to the weakened oil and gas industry. The economy is still growing and the unemployment rate has fallen, but the UK vote to leave the European Union has led forecasters to dampen their expectations for growth through 2017 and 2018, as inflation increases and uncertainty acts as a drag on business investment.
The property markets did react negatively to Brexit, although post-Summer there is some recovery in occupier markets. These continue to perform very differently by city and sector, as reported in the detailed market reviews. Uncertainty in the investment markets due to Brexit is confounded by the possibility of a second Scottish Independence Referendum.
For our detailed analysis download a copy of Ryden’s 79th Review or watch Partner Dr Mark Robertson's short video synopsis on the Scottish Property Review section of our website.