Why is the Scottish property market outperforming the rest of the UK?
It took an average of 37 days to sell a property in December last year, compared with 60 to 71 days for various regions throughout England.
* And the Scottish property market has it all. Whether you are in the market for an island, coastal cottage, castle, or a characterful, modern, and energy-efficient apartment, buying and living in Scotland is simply magical. But there is a long list of pragmatic reasons that make moving in or to Scotland a better experience, and perhaps these are keeping the Scottish property market ahead of the rest of the UK. So, what are they?
A better buying process
Buying is less stressful in Scotland, and getting gazumped is extremely rare. When an offer is accepted on a property, it’s taken off the market. So, the chances of somebody else sneaking in to make a higher offer are drastically reduced. Before a property is listed on the Scottish property market, the seller must provide a survey beforehand. In England and Wales, a home survey is carried out after an offer has been accepted. This more sensible approach could be a keystone to the success of the Scottish market.
Serenity in spades
Even if you have lived in Scotland for your entire life, it’s hard to take for granted the ubiquitous beauty that offers so much variety. Wherever your preferred location is, you are never far from somewhere special. Views from the Highlands, forests, mountains, lochs, and beaches are as enticing as the vibrant city life and culture that improve with every passing season.
Good affordability and exceptional value for money
Your money goes further in Scotland. The average price of property is considerably lower than that in England. And with affordability levels remaining good, the market is robust. With a number of finished properties ready for you to move into and a choice of projects waiting for you to put your mark on, your options are endless. From holiday homes to perfect places to raise a family and sound buy-to-let investments. It’s little wonder urban flights to Scotland from London and other areas in the UK is so appealing.
A change of lifestyle
With so many people leaving the city behind in all locations because they can work from home, suddenly what was once impractical is an idyllic and ideal way to live. Your options are opening, and many home movers are now making the most of the opportunity to create their property dreams. This helps keep the Scottish property market buoyant, which means your home is in demand.
Strong demand
The level of demand for high-end homes is outperforming the rest of the UK, and why not? For the price of a London flat, you could purchase an island. But it’s also the healthy economy and good demand for family homes or something more modest in town, city, or rural locations that anchor the market. And at the dawn of a new year, with better interest rates, there is a feeling of rejuvenation in the air. This will cause a flurry of new interest from far and wide, helping to keep the market in a healthy spot.
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This article was originally published by BriefYourMarket and is reproduced here with their permission.
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