The Herald - The Herald Magazine
THE VOICE OF PROPERTY
SAVILLS’ latest Scottish Property Outlook revealed illuminating facts and figures presented by Faisal Choudhry, the firm’s head of residential research, who referenced the furlough scheme, cheaper mortgages and a benevolent approach to short term arrears by lenders, for enabling the residential property sector to become the star performer of the Scottish economy since it reopened following the initial Covid-19 lockdown. As a result, annual house price growth in Scotland during the third quarter of 2021 was 12 per cent, compared to 10 per cent across the UK.
He said: “Market activity has been exceptional since the summer of last year, particularly in the prime market where agreed sales above £500,000 are 67% above the prepandemic average, according to data provider TwentyCi. A desire for more space both indoors and outdoors, with a separate space to work or study, has fuelled demand. As a result, the number of agreed sales in Scotland increased by 35% between July and December last year compared to 2019, according to data provider TwentyCi.
Choudhry concluded: “The supply and demand imbalance points to further headroom for price rises. However a gradual rise in interest rates and the prospect of increased taxes may temper growth levels in the longer term. This imbalance underpins our forecast of 9.5% annual growth in Scottish house prices by the end of this year, led by city and suburban locations around Edinburgh and Glasgow.”
LOCATED near Drymen, on the edge of the Loch Lomond and Trossachs National Park, historic Dalnair Castle and its parkland estate fit the bill as an idyllic dual lifestyle location with both Glasgow and Stirling easily accessible.
While the estate is now home to a new phase of five-bedroomed luxury homes priced from £725,000, the jewel in the crown is the newly
launched penthouse apartment within the castle itself - the culmination of an extensive refurbishment programme by FM Group. Formed over three levels (with a choice of lift access or grand staircase), the threebedroomed penthouse includes a private roof terrace offering breathtaking views. For sale at £650,000. Contact Clyde Property’s Bearsden office.