Hennessy Bowie Solicitors News
Hennessy Bowie & Co has been practising in Bishopbriggs for some twenty five years, principally in the areas of domestic conveyancing, commercial conveyancing, commercial leasing, executries and matters relating to care for the elderly,
Scottish Prime Housing Market continues to rise
Prices and sales in the country house and prime property market in Scotland are increasing and expected to rise further. Scotland is currently experiencing its strongest residential market in a decade, and the robust performance of the prime country house market is contributing to this surge. There was a 29% increase in the volume of sales of properties valued above £750,000 from the previous year.
Edinburgh properties worth more than £1 million now sell faster than almost anywhere else in the UK
Luxury properties in Edinburgh are sold in an average of 53 days, second only behind Cambridge where expensive homes are snapped up an average of 45 days.
Estate agents in the exclusive rural property sector noted that these increased prices have been the result of competitive bidding wars, and an increase in demand from buyers tired of the ‘fairly static price growth.’ As a result, the sales of these high-end properties continue to boost the Scottish Government’s tax revenue.
Research from Knight Frank claims that more expensive properties in rural areas that are within a commuting distance to urban areas are seen as ‘better value’ than many more suburban markets in the UK.
Annual growth reached 1.6%, the highest since 2014, and this second-quarter growth is expected to continue into 2019 and beyond.
Even if you’re not looking to spend £750,000 on a rural country mansion, our expert solicitors can help you buy or sell any property. Contact us to help you get that first foot on the property ladder or continue to climb.
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