"Q1 2026 points to resilient occupational demand, but investment activity continues to lag the long-term trend"

"The introduction of the National Planning Framework 4 in February 2023 has led to several changes to how development will be planned in Scotland."

"Given development under NPF4 is dependent on allocated sites and heavily focused on brownfield, it is important to understand how much housing supply these sites can deliver. "

"Development on existing sites, especially in large cities, often comes with additional costs and challenges compared to conventional greenfield development, despite urban development often selling for above-average values per square foot."

"Beyond the new requirements in NPF4, the wider issue facing housebuilding in Scotland is one of viability."