Offers-over prices soar in Scotland’s new housing boom

SCOTLAND is in the grip of a rural property boom with house hunters willing to pay an average of more than £70,000 above asking prices for country homes.

Estate agents report properties changing hands for up to 12 per cent more than asked for as part of a scramble to relocate to rural areas.

At the same time, city centre properties saw a drop in value of around 10 per cent due to the trend of working from home.

Last month in the upmarket town of Bridge of Allan, Stirlingshire, the number of homes being sold more than doubled compared with the same period last year.

Houses with gardens are the most sought after, with detached four-bedroom properties changing hands for an average of £71,400 above their asking prices.

Some properties in the area saw their price rise by 25 per cent.

The UK has experienced a postlockdown property boom that has pushed house prices to a record high, according to the Halifax.

The bank found that average house prices have topped £245,000 for the first time.

Stirlingshire-based estate agent Halliday Homes said one sixbedroom mansion is expected to break all records later this month with an additional £375,000 added to its £1.5million price tag.

Such sales have been sparked by a surge in city dwellers keen to move to the countryside in search of bigger homes in the wake of the Covid-19 lockdown.

Austin Halliday, managing director of Halliday Homes, said buyers were also looking for quick sales in a bid to secure their new house before the end of the UK Government furlough scheme.

He added: ‘We are seeing a lot of people from the city moving out to the countryside on a scale we have never seen before. And Bridge of Allan is particularly desirable just now because people want a private garden. There is a lot more monetary value in properties with private gardens. People have been in lockdown and they simply want more space.

‘We averaged £71,454 above asking price per property in the month of August but some were higher than that.’

Mr Halliday added: ‘When we put a house online, we can usually expect an inquiry within 25 minutes and properties are going to closing dates in ten days.’

In Dunblane, Perthshire, a threebedroom property changed hands for £340,000, around 15 per cent more than its asking price.

Another four-bedroom property in the town sold for £380,000, an increase of 10 per cent per cent on its initial price tag.

Research published yesterday by the Halifax found prices rose by 1.6 per cent – or almost £4,000 – to a record average of £245,747 across the UK last month.

Scottish homes appreciated in value by £326 each month over the past year. Bank of Scotland analysts said the average property north of the Border is now worth £171,365, compared with £167,446 in August 2019.

‘People simply want more space’