JLL in Scotland reaction to the 2015 General Election results

Commenting on the Scottish outcome in the 2015 General Election, Alasdair Humphery, Lead Director, JLL in Scotland said:

“Only six months after the referendum result, question marks remain over the constitutional future of Scotland. Whilst the SNP have been clear that this was not a vote about independence, it’s difficult to see how a second referendum isn’t closer than it was when this election campaign began. And of course, uncertainty over the future of the Union will once again create some hesitation over investing in Scotland, especially from UK-based investors, albeit they might be attracted by softer pricing in the Scottish property market.

“This uncertainty is further compounded by the looming spectre of a planned referendum on British membership of the EU in 2017. Scottish businesses will remain committed to a strong position within the European Union and will need to engage in the reform debate to see if a referendum can be avoided.

“To avoid a repeat of the slowdown in investment and occupier activity which characterised the run-in to last year’s referendum, Scotland’s business and political community will need to focus on reassuring the market of Scotland’s excellent credentials as a place to do business and to invest in.  Edinburgh and Glasgow are generating positive interest on the back of a variety of strong key markets such as the Service Sector, Banking & Finance, Digital Technology and Bio Sciences.”