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Home Reports
01/12/2009
On the first anniversary of the introduction of Home Reports, Housing Minister Alex Neil has said that the system has been 'good news' for the Scottish housing market.
Statistics released today by the Scottish Government show over 75,000 Home Reports have been completed over the last year with the highest numbers in Edinburgh, Glasgow, Fife, Lanarkshire and Aberdeen.
Mr Neil said:
"The Home Report has been good news for everyone. It has given would-be buyers - about to take the biggest financial leap of their lives - the best possible information upfront. And it has brought in its gift a host of other benefits.
"Buyers can now keep hold of their savings for deposits, without having to shell out for surveys on properties they don't get to buy.
"There is also much more clarity about the value of a house, with the virtual end to unrealistic 'offers-over'.
"For sellers it's proving a great way to attract inquiries from potential buyers and guide them on how to prepare the property for sale."
Matthew Gray, Property Services Director at Pagan Osborne, said:
"There has been a significant shift in opinion surrounding the Home Report in its inaugural year as part of the property selling process in Scotland.
"When it was first launched, the property market was going through an unprecedented low period. Confidence had taken a battering and many feared the Report would hit it further. That has not been the case.
"The Report was introduced for a reason and that reason was to bring more clarity to the buying and selling of property and improve the quality of the housing stock. I believe this has worked and we are seeing the benefits.
"If a potential seller knows there is an issue, but also knows how it can be resolved, then they will be far more willing to negotiate rather than disregard the property than if issues were to be highlighted with no solution.
"A buyer knows what they are getting from the outset, from the energy efficiency to any work that has been carried out on the property, and an up-to-date current market value a surveyor places on that."
Sarah O'Neill, Head of Policy and Solicitor, Consumer Focus Scotland said:
"Despite having been introduced at a difficult time for the housing market, Home Reports are now an established part of buying and selling a home in Scotland. They are a consumer-focused solution to reducing the risks and stress of one of the biggest financial decisions anyone ever makes."
"The benefits that they provide for buyers are clear - detailed information, compiled by an expert, on the value, condition and energy efficiency of the property. They are especially helpful for first time buyers who can now approach buying a home with greater confidence and less expense."
"Sellers also gain from buyers' confidence that what they are getting is up to scratch. Most sellers are also buyers themselves and now pay only once for the report rather than potentially for several surveys on different properties. Everyone benefits from Home Reports and as the market recovers their importance will become even clearer."