Mar­kets are pick­ing up

A re­gional round-up shows good news in most ar­eas as sales of al­most all house­types rise slightly

The Herald - Scotland's Homes - - News - Bev­er­ley Brown

THE lat­est UK House Price In­dex from Regis­ters Scot­land shows the av­er­age price of a prop­erty in Scot­land in March this year was £137,139 – up 0.7 per cent com­pared to March 2016, al­beit one per cent less com­pared to the pre­vi­ous month – while the UK av­er­age of £215,848 is 4.1 per cent higher for the same pe­riod year-on-year. Res­i­den­tial sales vol­umes in Scot­land in Jan­uary this year saw a two per cent in­crease year-onyear, with most ac­tiv­ity in Ed­in­burgh City, Glas­gow City, South La­nark­shire, Fife and North La­nark­shire.

All prop­erty types – with the ex­cep­tion of flats – showed an in­crease in av­er­age price in March 2017 com­pared to the pre­vi­ous year. The biggest price gains were in the semi-de­tached cat­e­gory, while flats dipped marginally. The lo­cal author­ity area show­ing the biggest year-on-year price in­crease in March was East Dun­bar­ton­shire, where the av­er­age price has risen 10.7 per cent to £196,332 – in con­trast with Aberdeen City, where prices fell by 6.3 per cent to £163,050

Cap­i­tal in­crease

BUOY­ANT mar­ket con­di­tions are also cause for cel­e­bra­tions at Strutt & Parker’s Ed­in­burgh City team, which has had a re­mark­able start to the year with two prop­er­ties sell­ing for just shy of £3 mil­lion in ad­di­tion to sev­eral more fetch­ing over £1m. And ac­cord­ing to as­so­ciate Michael Hodg­son, it is not only the top end of the mar­ket that is per­form­ing well.

“A fam­ily home in Howard Place in Stock­bridge re­cently sold at a clos­ing date for well in ex­cess of the ask­ing price of £725,000 – and city cen­tre flats are sell­ing like hot cakes,” he says.

At­tract­ing con­sid­er­able in­ter­est fur­ther down the price range, a re­cently launched “pro­ject” prop­erty on the beach­front in Mus­sel­burgh re­ceived two for­mal notes of in­ter­est and 29 view­ings in the first week. Priced at of­fers over £350,000 to re­flect the need for restora­tion, the five bed­roomed circa 1898 semi-de­tached prop­erty pro­vides a blank can­vas op­por­tu­nity to cre­ate a fab­u­lous fam­ily home with a gate in the gar­den wall open­ing onto the beach.

Cen­tral heat­ing

THE Stir­ling branch of in­de­pen­dent prop­erty con­sul­tancy CKD Gal­braith re­ports a par­tic­u­larly high level of ac­tiv­ity of late, with the num­ber of view­ings over the first quar­ter of the year up 60 per cent on the pre­vi­ous quar­ter, while the sup­ply of houses to the mar­ket has dou­bled. Sales agent Gareth Walker, com­ments: “Stir­ling­shire and the wider cen­tral belt of Scot­land con­tin­ues to at­tract buy­ers from across the coun­try but we have ex­pe­ri­enced no­tice­ably lo­calised move­ment within the re­gion in the last few months. Young pro­fes­sion­als pre­vi­ously rent­ing in the area are now choos­ing to buy their first home here, whilst many lo­cal fam­i­lies are also mov­ing up the prop­erty lad­der. As a re­sult, the sales team in Stir­ling has seen prices achieve on av­er­age, five to seven per cent above Home Re­port values.”

Con­struct­ing a fu­ture

PUPILS from Royal High Pri­mary School in Ed­in­burgh’s Por­to­bello area have buried a time cap­sule in the foun­da­tions of Bar­ratt Homes de­vel­op­ment. In­cluded in the cap­sule was ref­er­ence to Por­to­bello’s brick­work tra­di­tions and re­main­ing his­toric kilns, the sub­urb’s links to roy­alty and the im­por­tance of Por­to­bello’s in­dus­trial her­itage. Ali­son Condie, man­ag­ing di­rec­tor of Bar­ratt Homes East Scot­land, adds: “Ac­tiv­i­ties such as this also al­low young­sters to get a sense of the work we do and may in­spire them to con­sider con­struc­tion as a fu­ture ca­reer.”

BEACH HUNT: A five-bed­room fixer-up­per in Mus­sel­burgh at­tracted great in­ter­est.

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