Growing our estate agency coverage

Over the course of 2010 I have noticed an increase in requests for my firm’s estate agency services from other areas of Scotland.  I think that the attraction of the website, the fantastic schedules, the use of modern technology and the highly trained estate agency staff has led to this demand.

In light of this we have restructured our estate agency service and appointed Property Sales Managers to increase the area that we now cover. This area now includes Glasgow, Edinburgh, South Fife and as far up as Stonehaven.  We also cover Perth and Perthshire.

I am very excited about this development and see it as a perfect addition to our already strong and growing presence in our core areas of Dundee, Arbroath, Carnoustie, Forfar, Kirriemuir and Brechin.

Should you wish to arrange a free valuation in any of these areas then please contact us on:-

Edinburgh: 0131 202 1868
Perth: 01738 500600
Montrose: 01674 900200
Glasgow: 0141 404 5460

I think this will further enhance the service that we can provide our clients both individuals and developers and I will keep you advised of progress.

Lindsay Darroch
Head of Property Services

P.S. Since writing this blog I am pleased to advise that we already have a number of prospects in Edinburgh, are listing a property in St Cyrus, have listed and sold a property in Crieff and have a number of enquiries for Perth.  We have also had a few referrals for the Glasgow and Cumbernauld areas.

Surge in buy to let market

Readers of previous blogs will know of my interest in property investment and the buy to let market.  There has recently been a report from ARLA indicating that tenant demand is at its highest level ever throughout the UK with landlords reporting rental voids at a new low-level.  This surge has been caused by ever-increasing student numbers, a lack of opportunity for first time buyers and the ever-present shortfall of houses in the UK.

With current housing prices at comparatively low levels and tenant demand being so high there has never been a better time to invest in property and in Dundee in particular.  Past experiences tell us, however, that it is important before you embark upon this type of venture to take the correct advice from a property specialist, and with recent proposals to further regulate the relationship between landlord and tenant it is now very important to take legal advice in terms of preparing the Tenancy Agreement.

P.S.  For your interest I have been recently involved in discussions in respect of the possibility of creating a ‘property investment trust’ which I think is a very interesting development and I will let you know when more details become available.

Lindsay Darroch
Head of Property Services

V & A Dundee: an opportunity too good to miss

As someone who passionately believes in the City of Dundee, I was delighted to attend the V & A Exhibition at the University of Abertay.   If you have not already attended I would strongly recommend that you do.  At the exhibition you can see the six iconic designs that are proposed for the new V & A, both in model form and with 3D vision.  There is also a write-up about each proposal and at the end you get an opportunity to vote for your preferred choice.  I will not say which one I voted for but would say that I definitely agreed with the majority opinion.

Speaking to someone from the City of Dundee Council it is amazing to hear the economic benefits that will be brought to the city should the V & A go ahead.  This benefit is both in terms of profile, attracting further investment and a huge increase in visitor numbers.

I think that the V & A is an exciting proposition for anyone in Scotland and in particular Dundonians, especially people who are running their own business in the city.   I also think that without a doubt there will be knock-on effect in the local property market with increased employment and the potential for an increase in tenant numbers.

I would urge everyone to get behind this proposal and support the campaign to bring the V & A to the City of Dundee.

Lindsay Darroch
Head of Property Services

Mixed messages surrounding the mortgage market

Whilst a lot of recent press reports have been very negative in respect of mortgage lending and certainly there is a degree of difficulty with a certain type of lending, I have recently been involved in discussions with a leading High Street lender regarding Blackadders being given access to some semi-exclusive off-market products.

With some commentators moving towards the view that interest rates will stay at their current low-level until spring/summer 2012, there does appear to be a slight easing off in the mortgage market.  This reinforces the importance of speaking to an independent mortgage adviser at the earliest opportunity to make sure that you are getting the best deal you can.

Lindsay Darroch
Head of Property Services

Property market correction

Readers of previous blogs will know my deep suspicion of house price reports, however, the recent report out on 7 October from the Halifax indicating that UK prices fell 3.6% in September does, to me, indicate rather than a trend for house prices more a market correction that is currently taking place.   I know from speaking to some surveyors recently that they are of the view that there will require to be a correction in certain house prices to get the market moving again.

I will update you as soon a I have more information.

Lindsay Darroch
Head of Property Services

Embracing new technology in the property market

I am very pleased to announce that our website has been nominated for a DADI in the category of Professional Services Website or Campaign (DADI stands for Drum Awards for Digital Industries).

The DADI attract entries from some of the biggest brands in the UK including Adidas, Channel 4, BBC, Lucozade, Red Bull, Wonderbra, Tennents, Reebok and Ronseal and have become synonymous with digital success.  The results will be revealed on Friday 12 November and I will let you know as soon as I hear.

As well as continuing to improve and update our website, we are also utilising the exciting property selling avenues offered by Facebook and Twitter.

When choosing a selling agent, vendors should explore the technology and data that is available to the agent as new technology is now at the forefront of modern estate agency.

Major lender returns to buy to let market

It was interesting to hear that Paragon, which was one of the largest buy to let lenders during the housing boom, is returning to the market for the first time in 18 months.

Paragon has arranged a £200m facility provided by Macquarie Bank which gives Paragon the money it needs to write new loans up front.  Paragon is being more cautious than it was in the past and is aiming for investors with a minimum deposit of 25%.

I think this is very good news as buy to let is such an important part of the Scottish housing market, and Dundee in particular, and competition is always welcome.

Should you require further information on the products offered then please do not hesitate to contact me or Blackadders Mortgages.