The Herald - The Herald Magazine
BEVERLEY BROWN SCOTLAND’S VOICE OF PROPERTY ROUNDS UP THE WEEK’S
REGISTERS of Scotland’s latest residential property market report for 2018-19 reveals some interesting findings and figures, not least the average price of a home in Scotland during the period was £178,991 – a 16 per cent increase compared with the pre-financial crash average of £154,817 in 2007-08, although the volume of sales in 2018-19 was 32 per cent down compared to the peak year 2006-07.
Looking at average prices of the various property types, detached homes had the highest average price (£263,336) and the highest share of the sales market. Flatted properties showed the highest volume of sales. The report also reveals four out of five residential sales – equating to 80 per cent of the market – were priced between £20,000 and £250,000.
While there were only five fewer highvalue (over £1 million) sales in 2018-19 compared to the previous year, the volume of high-value sales is 26 per cent lower than its peak in 2007-08.
Edinburgh held onto its lion’s share with half of all sales over £1 million during the period – most in the top three postcode areas, respectively EH3, EH10 and EH9.
New build average prices in 2018-19 were only a smidgen down on the previous year (£249,429 compared to £250,699) but well above the average £178,991 price for all residential properties – and since 2009-10, the average price of a new build home has increased by 30 per cent compared to 18 per cent for all properties.
CATCHMENT IF YOU CAN
NEWS that St Ninian’s High School in the East Renfrewshire suburb of Giffnock has achieved the best ever secondary school inspection report issued by Education Scotland, is likely to further fuel demand for this popular high amenity suburb. The property markets in Giffnock and the adjoining suburbs of Clarkston, Whitecraigs and Newton Mearns account for three of the top-rated high schools in Scotland. As a result, competitive closing dates for the most keenly sought properties are virtually the norm, making it devilishly hard for buyers.