Scotland steps into the spotlight

Posted on 9 Sep, 2020

Whether it’s living under Nicola Sturgeon’s thunder-stealing rule, the stunning scenery or just the thrill of becoming part of the tartan army, Scotland is definitely having a moment on the UK property stage.

There is something very special about the Saltire flag, flown high and proud above Scotland’s castles, ancient monuments and places of interest but proving just as pleasing is Scotland’s property market. In fact, the BBC recently reported on the exceptional demand for Scottish property from English buyers and from those thousands of miles away in Hong Kong.

Crossing the border is being made more possible thanks to a shifting ‘working from home’ sentiment and a desire for wide open space in less-populated areas. When you add in more favourable house prices, compared to towns and cities in the South of England, you have an intoxicating mix prompting people to look further North than ever before. To illustrate, data released by ESPC showed viewing requests were up 200% year-on-year in the last week of June 2020.

With such demand, it’s no surprise that Scottish property owners are seizing the opportunity to sell. ESPC’s analysis also revealed June 2020 saw the highest number of property valuation requests ever in a month.

For those who are considering a like-for-like city swap, speed is of the essence. Zoopla has revealed property in Edinburgh and Glasgow is selling faster than anywhere else in the UK. In Glasgow, ‘for sale’ boards are turning to ‘sold’ after just 16 days on the market, with homes being snapped up in just 17 days in Edinburgh. In comparison, the UK average is currently 27 days.

Outside the big cities, Scotland’s lakes, lochs and rivers have always been an attraction but now there’s heightened demand. The good news is research for GetAgent shows a property close to a freshwater feature is cheaper to buy in Scotland (£189,935) than England (£288,688) and Wales (£198,348). If you want to bag a waterside bargain, head to Loch Awe in Argyll and Bute, where the surrounding area’s current average property price is £150,587.

 

For a wider snapshot of Scotland’s property market, the current average house prices for some of its most popular locations are listed below:-

Location

Average House Price*

Aberdeen

£194,054

Angus

£168,397

Dundee (County)

£151,790

East Dunbartonshire

£260,714

East Lothian

£263,619

East Renfrewshire

£260,480

Edinburgh (County)

£286,024

Fife

£163,807

Glasgow

£163,058

Midlothian

£225,343

Perth and Kinross

£204,639

Renfrewshire

£148,475

West Lothian

£182,896

 

In terms of the rental market, it’s a case of ‘as steady as she goes’. According to the latest HomeLet Rental Index (July 2020), rents in Scotland have proved stable in the last 8 weeks, at an average of £692 for both June and July 2002 (and slightly above July 2019’s average figure of £679).

If you are interested in Scotland – as a buyer, investor or are an agent overwhelmed with viewing requests, contact Viewber today and we’ll explain our professional accompanied property viewing service in detail. We have Viewbers across Scotland ready to visit a property on your behalf.

*Average house prices taken from Rightmove, 28th August 2020

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