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