Sales are up 24 per cent year-on-year

Rutherglen Reformer - - Property -

which have seen a de­cline in sales from Novem­ber to Jan­uary, com­pared to the pre­vi­ous three months, are Aberdeen City and Aberdeen­shire.

In Aberdeen City sales have fallen by 11 per cent in this time pe­riod, as a re­sult of the oil cri­sis and the large pro­por­tion of ex­pen­sive de­tached homes in the city which are hit hard­est by the LBBT.

“Scot­tish house prices have also been on the move, ris­ing 0.8 per cent (£1,346) this month, al­most triple the 0.3 per­cent (£492) up­lift seen in De­cem­ber.

“Jan­uary marks the sixth con­sec­u­tive month of year-onyear growth in house prices, as the mar­ket finds a sturdy foot­ing, putting the shaky start to 2015 be­hind it.

“The boost in prop­erty val­ues has been driven by im­prov­ing eco­nomic con­di­tions, with em­ploy­ment in Scot­land at an all- time high. How­ever, this sta­bil­ity may be un­der threat if the ef­fects of the im­pend­ing LBTT sur­charge mir­ror those seen with the in­tro­duc­tion of the orig­i­nal tax.

“There could soon be a swift peak in prices as in­vestors rush to buy be­fore the sur­charge comes into force, fol­lowed by a dip in home val­ues af­ter the im­ple­men­ta­tion of the sur­charge.

“Stir­ling has seen the most sig­nif­i­cant up­swing in house prices of any area, with dou­ble digit an­nual growth. The value of a typ­i­cal home in Stir­ling has soared 13.5% (£ 24,508) yearon-year. This ad­vance has been fu­elled by Stir­ling Coun­cil’s pro­gramme to build 210 new prop­er­ties in the area, with an ad­di­tional in­vest­ment of £ 9 mil­lion planned for 2016.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.