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Scotland’s prime housing market fares well despite Brexit headwinds

Sheila Manchester

Dunkinty House - Moray - Galbraith image

Galbraith, a leading independent property consultancy, reports that the market for country properties continues to defy expectations, unaffected by Brexit uncertainty.

The firm’s residential sales for the third quarter of 2018 showed an increase of 10 per cent compared with the same period in 2017 for Scotland as a whole.

Particularly strong markets were in Aberdeenshire (up 100 per cent); Stirling (up by 100 per cent); Perthshire (up by 33 per cent); and Moray (up 55 per cent) – all year on year.

Simon Brown image

Simon Brown

Simon Brown, Head of Residential Sales, said that gloomy market predictions for the UK as a whole do not reflect the picture in Scotland, “The most recent quarter in 2018 reflected strong demand and market activity was steady throughout the year. Although this is a price sensitive market, accurately priced properties are selling well and prices have held steady or increased.

“Buyers are not buying in the expectation of a rise in value, aside from extremely high demand in parts of Edinburgh, Glasgow and St Andrews. Mostly buyers expect house prices to experience steady growth of perhaps 5-10 per cent in the medium term but do not buy with the expectation of a sharp rise in value.

“We expect there may be caution this year due to the political uncertainty but Scots have coped with two referendums, two general elections and Scottish national elections in the past four years, so perhaps we are getting used to political uncertainty.”

March 11, 2019

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