THE VOICE OF PROPERTY

Beverley Brown

PROPERTY intel this week includes Knight Frank’s revelation that Edinburgh made it into the Top 20 Cities in the firm’s Q1 Prime

Global Cities Index. Looking at Edinburgh City, Knight Frank’s data shows property prices in the city recorded their strongest first-quarter performance in three years, with an increase of 2.2 per cent, while offers accepted were up 80 per cent in the first three months of the year versus the five-year average.

Transactional activity also remained high, with exchanges up 51 per cent over the same period – and the prime suburban market – predominately Victorian-era homes outside the city centre – has continued to benefit from buyers’ appetite for more space and gardens.

Regarding Scotland as a whole, the firm reports property prices in the country market rose marginally in the 12 months to March 2021, however, average prices fell by 0.7 per cent in the first three months of 2021, and although new prospective buyers increased by 28 per cent in the first quarter, compared to the five-year average the number of sales instructions were down 11 per cent.

In March 2021, there were 21.4 new prospective buyers for each new sales instruction in Scotland. The ratio, which shows strength of demand versus supply, has been climbing steadily since the start of this year and peaked at 21.9 in February.

IF the sight of Dunan Cottage (featured below) leaves you hankering for a waterfront home, you’re not alone. According to property consultancy Galbraith, most attractive waterside homes can command up to a 25 per cent premium – and the current market is hectic, particularly in Inverness-shire and the Highland region.

Phiddy Robertson, who leads the Galbraith residential team in Inverness, comments: “These properties command a premium and demand is rising faster than supply. The continuing desire for a better quality of life and a relaxed environment have become principal criteria for house movers. This is a common theme for all age groups who are seeking a change of lifestyle by relocating to rural areas and the Highland region is a particularly attractive option. Waterfront properties also maintain their value over time. The opportunity to have a bolthole in an unspoilt part of Scotland and be able to watch the sunset over the water has huge appeal.”

Slater Hogg & Howison’s Largs office is selling this charming two-bedroomed flat in Fairlie on the Clyde coast for offers over £65,000. A snip at the price.