Property sales in Scotland reach highest annual figure since 2008
Residential property sales in Scotland exceeded £16.5 billion in 2015, according to the latest statistics published by Registers of Scotland (RoS).
A total of 97,701 sales took place across the country last year, the highest annual figure since 2008, and an increase of 4.5% compared to the previous year.
Edinburgh had the largest volume of sales at 11,991 in 2015, up 8.3% on 2014 followed by Glasgow, up 12.2% to 11,616. East Renfrewshire experienced the largest annual growth in the volume of sales, with a 13.1% increase to 1,861. Aberdeenshire saw the largest decrease in volumes, down 11.8% to 5,108.
Source: Propertywire Website
What impact will the EU Referendum have on the residential property market?
Well, the Referendum will, unfortunately, bring some uncertainty in the three to four weeks, before and after June 23rd and this is never a good time for positive decision-making activity, particularly if the polls are looking favourable for a Brexit.
Unfortunately, I fear that the Great British Electorate has not learnt the lessons from the last Election (May 2015) where polls consistently misinterpreted the underlying feelings of the populace and, therefore, reached the wrong conclusion and may well do so again this time.
Source: Primeresi Website
These are the biggest residential property investment deals of Q4
Big-ticket sales of Good Class Bungalows (GCBs) drove private residential demand in the fourth quarter, according to a report by Colliers.
The report noted that investment sales in the private residential segment amounted to $688.83m in Q4, down 19% from $850.3m in Q3. Sales of large landed homes contributed 70.1% of total deal value.
The largest deal of the quarter was the sale of a two-storey freehold GCB at 61 Dalvey Road for $26m, or $1,724 per sq ft over the land area of 15,080 sq ft. The bungalow comes with five bedrooms and a swimming pool, and is situated on an elevated plot opposite the Israeli Embassy.
Source: Sbr.com Website
District acquires residential property
The Hamilton School District recently acquired another piece of property.
Superintendent Joe Yurko said the district closed Thursday on a house at 1041 Laurel St. previously owned by Maxine Allen, adjacent to the old superintendent’s office.
The district paid about $28,000 for the property. The ultimate goal is to demolish the superintendent’s office and the house, according to Yurko. The empty lots would provide more recreational space as well as room for future expansion.
Source: Dailygate Website
Talbots builds ‘Top Ten’ success after residential property delivers £4.2m
A LEADING Midlands legal services provider has made its way into the top ten conveyancing specialists in the UK.
QualitySolicitors Talbots, which has seven offices across the Black Country and North Worcestershire, has completed more than 8,000 property cases in the last twelve months, marking £4.2m in fees and representing a 25 per cent increase on the previous year.