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

Perthshire Market Summary – March 2017

The spring market would appear to have started early this year with the number of new properties coming to the market and viewing figures both up considerably compared to 2016 statistics.  It’s still a great time to buy with interest rates held at an all-time low and banks offering finance with as little as a 5% deposit.  We also have a stable market in Perthshire with no dramatic price swings in recent years with many properties selling for around Home Report valuation.

10 Reasons to use Blackadders to deal with your Estate Agency and Conveyancing:

  • Estate Agency and legal teams all under the one roof
  • Members of Scotland’s Solicitors Property Centres giving your property maximum exposure
  • Efficient and cost effective – one firm dealing with the entire transaction
  • Lawyers on hand to answer any technical questions from interested parties regarding title deeds
  • Experienced negotiators helping to obtain the best price for your property
  • Offices throughout Scotland with local property teams who have local property market knowledge
  • Up-to-date buyers’ database
  • Full service firm including advice on asset protection, wills, divorce and family law, wealth management plus access to residential and commercial finance
  • Highest professional standards
  • Trustworthy and accountable as we are regulated by The Law Society of Scotland

Euan Stewart
Property Valuer – Perth
www.blackadders.co.uk

STAGNATION NOT BUBBLES – PART 3

Readers of previous blogs will recognise the above which has actually headlined two previous blogs. I thought this was an apt headline once again for my February update. From a very interesting article in The Times in the middle of February predicting the lowest number of transactions completed in the UK housing market for 2017 since the market recovered from the post 2008 slump to my own experiences of the market Scottish wide I am concerned regarding the lack of properties coming onto the market. Whilst I am still awaiting official figures my feeling is that February will be one of the worst months ever for new properties coming on to the market. With January and February combined probably showing a decrease of somewhere between 15% and 25% Scottish wide. My feeling is that at this stage sales are holding up whilst maybe even slightly increasing thus reducing stock levels to unsustainably low levels and also driving up prices and activity, in certain areas and for certain property types, again to unsustainable levels. The Aberdeen market continues to toil with a lot of sellers still not fully accepting the reduction in value to their property that is required to obtain a sale. What is causing this market anomaly? I think probably a number of factors are leading to uncertainty and uncertainty is, like the small snowball that starts rolling down the mountain side turning into a self-fulfilling avalanche. Economic uncertainty from brexit, global uncertainty from the United States, the constant talk of Inde2 coupled with some Scottish government policies that are anti home owner in particular the LBTT have all had a significant dampening effect on the market. It is always too early to write off a market after just two months especially the January and February months but unless there is a massive upswing at the end of March heralding a surge in activity in quarter 2 then I do fear that the housing market is in for a very bumpy ride. I will keep you further updated as and when the official stats come in.

Lindsay Darroch
Partner – Head of Property
@LindsayDarroch

www.blackadders.co.uk