April Update

Those of you who follow my blogs will be getting fed up with the similarity between my monthly updates.  I would advise that, according to the Blackadders property team, stats that I have seen and also discussions with people in the property business, the general feeling is that the market still remains very similar.  There is a notable geographical divide and I will use this as my basis for the update.

Glasgow and the West is a particularly buoyant housing market with stock and activity levels going well although stock levels are patchy but prices are consistently above Home Report Valuations.

Edinburgh is also very buoyant with high levels of activity however stock levels are slightly lagging and this is causing a supply/demand issue with prices increasing at a high percentage.  Moving along to Perth, the Perth market is moving on at a steady pace with activity levels of both sales and listings at or slightly ahead of last year.  Dundee and Angus appears to be a slight conundrum with stock levels down between 15 and 20% but the area still has a high level of purchasers.  Certain areas are moving strongly and prices are increasing as are the number of closing dates.  Moving on to Aberdeen after the depression of the last few years there are definitely signs of recovery in the Aberdeen market.  I think that it will take a couple of years for the excess stock levels to work their way through the system and also for realism to be fully embedded in the market.  People who are putting their properties on the market now at a realistic price are tending to see it move.  People who are unrealistic with their price and have had their property on for a long period of time are not.  It is an example of why you need a pro-active Estate Agent in your corner.  As a general review I would say that the supply of properties coming on the market is slightly down with a steady stream of purchasers.  This supply/demand issue is causing prices in certain areas to rise.

All in all an interesting market.  I will keep you up to date on future trends.  Please also watch out for a blog regarding the impact of the General Election on the housing market and also a further blog regarding the importance of new build developments to the market.  I will continue to keep you advised of trends and look forward to receiving any comments that you may have.

Lindsay Darroch
Partner – Head of Property 
@LindsayDarroch
www.blackadders.co.uk

Brechin and Montrose – both worth a second look!

For the first of my blogs on this forum I have decided to focus in on two areas of Angus, Brechin and Montrose.

These areas are rarely commented on in property publications and yet both the DD9 and DD10 areas offer something for a range of buyers. From stately period property with generous land to more easily maintained, modern homes there truly is something for everyone.

Frankly, in my view both areas have been shunned from focus as they fall between two stools, namely Aberdeen and Dundee. Yet, for my money this is part of the appeal to Brechin and Montrose, two locations that are separated by just 9 miles. Both serve as ideal commuting bases for a couple that comprises of one working in Aberdeen and another in Dundee – from my experience this is a common scenario.

Practicalities aside, both areas offer some of the most picturesque landscapes and coastline the east of Scotland has to offer. From the top of my head I can recall breath taking walks on St Cyrus beach or being impressed by the views of the stunning surrounding countryside when inspecting property in areas such as Edzell or Stracathro.

I have hand-picked three properties currently being marketed by Blackadders that illustrates the range of housing stock in DD9 and DD10:

18a Ramsay Street, Montrose
6 Cookston Cresent, Brechin
Mill of Brathinch, Brathinch Cottages, Brechin

If you are interested in selling or buying property in either of these areas Blackadders are on hand to give quality advice.

Brian Main
Area Manager (Angus)
01356 230666 (Brechin)
01674 900200 (Montrose)
www.blackadders.co.uk

NEW BUILD DEVELOPMENT

Following my blog regarding the update on the property market in March, and my previous blog regarding the importance of developments, readers may recall I had mentioned an exciting prestigious development that we have brought on the market in Liff.  As I expected, these properties are proving popular and I attach a marketing link and you will see that there are only five properties remaining.  Again, this shows you that the right new build property, in the right location, marketed properly will do well in this current property market.

The Trust House Development in Liff is part of our Open Viewing Day on April 22, where you can view these properties between 10am and 12noon without booking an appointment. Click here to view more information on this exciting development.

 

Lindsay Darroch
Partner – Head of Property 
@LindsayDarroch
www.blackadders.co.uk

 

MARCH UPDATE

I thought you would be interested to hear my feelings in relation to the first quarter of 2017 as far as the property market is concerned.  Whilst there was an uplift in March compared to February’s figures, this is not a consistent uplift across the country, with some areas being higher than 2016 and some areas being lower.  I expect, once I see official figures, that overall the numbers will be down by approximately 10%.  Most common mantra I am hearing in relation to my residential business, is that “I’m not putting my house on the market until I see somewhere that I want to buy”.  I’m noticing an increase in relation to the number of people deciding to stay put and carry out the extension/alteration to their existing property.  This lack of activity appears to have been caused by an increase in uncertainty due to the global, European and Scottish issues that are dominating the press.  Interestingly, I am already hearing of a couple of commercial developers who have decided against investing in Scotland due to uncertainty caused by Indy2.

The lack of stock is very much causing an increase in prices with the number of closing dates increasing and the right properties in the right areas achieving far in excess of the expected price.  I do not think that this is sustainable.  I will keep you updated on trends.

Lindsay Darroch
Partner – Head of Property
@LindsayDarroch
www.blackadders.co.uk

Blackadders Launch Open Viewing Day – April 22

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The Blackadders Property team are delighted to announce that we will be hosting an Open Viewing Day on Saturday April 22 at our property shops.

The Open Viewing Day will provide you with a unique opportunity to meet our various property teams who deal with the entire property buying and selling process for our clients. From having your house viewed and valued; to marketing and promoting your property; to guiding you through the offer stage; all the way through to conveyancing and concluding your sale or purchase – our team will have you covered. We even have mortgage experts on hand too!

Refreshments will be provided for those who attend and there will also be a free prize draw, giving you a chance to win a “fee free purchase” from Blackadders.

Whether you are a 1st time buyer looking to get on to the first step of the property ladder or an experienced property developer, our Open Viewing Day offers an opportunity to meet the team who work at Blackadders who can answer your questions and give you expert property advice.

Our Open Viewing Day will also see selected properties hosting “Open Viewings” between 10am and 12 noon where you can view properties that are currently on the market with no prior appointment.

Included in these Open Viewings are two fantastic new developments in Liff and Broughty Ferry.

The Trust House in Liff is a unique development which has been delivered to a very high standard; a converted former hospital providing tranquil country living within just 10 minutes of the Dundee City Centre. You can view this development by clicking here.

The Taychreggan luxury development in Broughty Ferry is a substantial former mansion house and hotel based in a very sought after residential area. This has already proved to be a very popular project and there are just 5 properties available left in this development. You can view this development by clicking here.

Our Open Viewing Day provides a unique opportunity to visit these prestigious properties at your leisure. For more information on these developments and all of our properties that will be hosting Open Viewings, please contact our property teams below:

Aberdeen:       01224 452750
Dundee:           01382 342222
Edinburgh:      0131 202 1868
Perth:               01738 500600
Arbroath:         01241 876620
Forfar:               01307 461234

Lindsay Darroch
Partner – Head of Property
@LindsayDarroch
www.blackadders.co.uk

BREXIT JITTERS

I was interested to read research from consumer group Home Owners Alliance which advises that more than a million UK adults have shelved plans to purchase a new home because of the vote to leave the EU, economic uncertainty, mortgage restrictions and high house prices.  I also think that the possibility of Indy2 is having an impact in Scotland as are the changes last year to LBTT.  I will give you my March report as soon as I have further stats.

Lindsay Darroch
Partner – Head of Property
@LindsayDarroch
www.blackadders.co.uk

DEVELOPERS REQUIRED

As readers of previous blogs will know I am concerned regarding the lack of second hand property coming on to the market.  This is causing distortion in price and could lead to stagnation.  I am very pleased to see the increased number of developments that are proposed or are coming to the market and I am particularly pleased to see an increase in activity from the Blackadders new build team.

I am delighted that we are involved with the bringing to the market of the Trust House Development in Liff.  This development consists of five two bedroom flats, one three bedroom flat and two townhouses which have been developed to a very high standard by developers Mike and Lisa Mitchell working closely with Jon Frullani Architects.  The Blackadders new build team have also been involved and I am delighted that these very attractive and unique properties are now on the market.  This is a unique development that has been carried out to a very high standard and combines the character of living in an old property with the fittings of a new property.  The location gives country living within 10 minutes of the City Centre.  With prices starting at £160,000 please call Blackadders estate agency team on 01382 342222 to arrange a viewing of what I am sure will be a very popular development.

You can view this exciting development by clicking here.

Lindsay Darroch
Partner – Head of Property
@LindsayDarroch
www.blackadders.co.uk