Scotland
Loch Torridon in
the Highlands:
Scottish estates
are still in high
demand
Scotland,
the brave
After weathering the storm of the last year, positive
signs are emerging north of the border, especially
in central Edinburgh and on farms and estates
pring has brought clearer skies, have gone back to being a proper market.”
S
longer nights and a mood of However, this ‘proper market’ isn’t a
measured optimism to Scotland. return to the days of dizzy premiums,
Early on in the downturn, there was and times are still tough. It’s a market
a feeling of resilience north of the border that reflects a drop in house prices of
– a belief that the market might escape the approximately 15 to 20 per cent. For
tumultuous swings of the south. As 2008 sellers, this means achieving five to
progressed, however, it became apparent 10 per cent more than the asking
that this wasn’t the case and by autumn price where previously they might
transactions had all but ground to a halt. have secured an extra 20 to 30 per cent
Now the mood has changed again and for (the asking price in Scotland is always
the better. a ‘starting price’).
“Since spring, we have seen an increase Savills’ research suggests that the
in activity and we’re back to securing worst of the decline is behind us and
deals,” says Jamie Macnab, of Savills points to prices levelling out towards
Scotland. “For the first time in a year, we the end of the year. In the meantime,
buyers are responding to sellers who
have realistic expectations.
Property hotspot | Edinburgh
“Sellers now have a better
understanding when it comes to pricing
their properties, after they have taken our
advice,” says Andrew Perratt, of Savills
Glasgow. “Properties coming on at the
20 Dublin Street, New Town
This beautifully presented three-
right price are selling.”
storey townhouse is centrally
located and is close to many of
Cash transactions
Edinburgh’s top independent
schools. It has four bedrooms,
Edinburgh remains a hotspot with the
with flexibility for a further three.
variety of buyers reflecting the diversity of
employment in the city. Properties in the
Price on application
half million to £1 million price range are
Contact: Sophia Sheldrick
+44 (0)131 247 3734
generating the most interest, but Macnab
ssheldrick@savills.com has hope for more activity above the
£1 million mark. There are a number of
102 savills ultimate property collection
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