How Scotland even beats London for speediest sales of £1m homes

HOMES worth more than £1million are now being snapped up quicker in Scotland than anywhere else in the UK.

So-called millionaire movers are driving the surge in sales as they swap their city commutes for more rural retreats.

It means Scotland has overtaken London as the fastest-moving luxury home market, according to Rightmove.

Top-end homes in Scotland are finding a buyer in 61 days on average – 25 days faster than before the pandemic when it took 86 days, the website said.

In London, £1million homes have taken an average of 67 days to find a buyer. This compared with an average of 85 days before coronavirus.

John Boyle, at Rettie & Co, said: ‘The Scottish £1million market has proven to be resilient. Demand has been moving well ahead of supply.’

He said although Edinburgh accounted for well over half of all Scottish £1million sales, ‘other areas are seeing rising £1million sales, particularly in outlying areas of the wider Lothians market’.