Reasons to be cheerful

A Panglossian interpretation of the latest Scottish housing figures might at first glance appear a perverse exercise, given the headline figures. According to Registers Scotland, which records every housing transaction in this country, the market contracted by nearly £900m in the second quarter of this year. The figures, published yesterday, also show that the number of properties to change hands fell by almost 20% compared with the same period last year. Ample evidence of more doom and gloom to pile on the agony for prospective housebuyers, sellers and those striving to put a foot on the property ladder, then?