Dealing with transactions throughout Scotland allows me to see the different trends developing in all the geographical areas. Readers of my blog will be aware of my comments in relation to the varying speeds of economic recovery throughout Scotland. At the moment the interesting market is Aberdeen, where the oil price is having a major impact on properties over £250k. Properties valued below £250k have been unaffected and are still performing strongly.
I have also noticed recently a significant east-west divide in relation to asking prices. It is very common in the west coast of Scotland to set asking prices considerably below the Home Report valuation and client expectation to generate interest and increased prices. This marketing tool can be used quite successfully and reinforces the importance of having expert legal advice when offering on properties. This trend gives me a wry smile given that the introduction of the Home Report was supposed to end the setting of low asking prices.
Partner – Head of Property
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