BLACKADDERS – CAMPAIGNING FOR THE SCOTTISH HOUSING MARKET

As part of our campaign to support the Scottish housing market and assist in overcoming the barriers to housing delivery, I am pleased to advise that we have renewed our membership once again for the organisation – Homes for Scotland.

Homes for Scotland plays an important role in ensuring that Scotland is building enough homes of all tenures to meet the diverse housing needs and aspirations of its growing population.  Homes for Scotland is involved with planning, developer contributions, housing policy, building standards, low carbon agenda and many other issues that impact on the Scottish housing market.

LDDLindsay Darroch
Partner
Blackadders LLP
@LindsayDarroch
www.blackadders.co.uk

Properties being sought in East Neuk, Fife

Blackadders are delighted to announce a new property display window within the popular East Neuk village of Anstruther – pictured above is Neil Fyall our Senior Property Manager, outside the new display within Rodger Street, Anstruther.

Blackadders’ Property Services Director Martin Paterson (who lives in Anstruther) comments:  “Over many years we have had many successful sales within the East Neuk of Fife and this display further enhances our commitment to offering property services within the East Neuk of Fife and St Andrews.  Having lived in Anstruther for over 30 years and being involved in the local property market for that time also there is no shortage of expertise in providing free no obligation valuations to all properties within the area.  Buyers traditionally are a mixture of families wishing an excellent family home and a safe and comfortable environment along with people looking for a first time buy or second home.  In years gone by second homes were particularly prevalent in Elie and Earlsferry but this has extended now to all villages throughout the East Neuk of Fife with particular interest recently in properties being sought in both Anstruther and Cellardyke.  Crail has always proved popular particularly with its easy access to some excellent links courses with Pittenweem and St Monans always proving popular due to the many historic and fine features”.

If you would like to arrange a Free, No Obligation, Marketing Appraisal of your home please give our Property Sales Team a call on 01334 800600 (7 days), and either Martin Paterson or Neil Fyall will call out to have an informal chat.

Blackadders LLP
@BlackaddersProperty

www.blackadders.co.uk

The signs for the Edinburgh Property Market are looking good in 2018

Blackadders are delighted to announce a new display window within London Road, Edinburgh. Property Services Director, Martin Paterson commented: “This will be a great addition to Blackadders Estate Agency having a further display window within a main arterial route”.

Edinburgh Property Manager, Scott Whigham is optimistic about the year ahead: “The signs for the Edinburgh market are good in 2018. I am anticipating a similar year to last year where I think prices above Home Report value will be achieved on a regular basis. This is undoubtedly down to fewer houses being on the market and it really is about supply and demand at the moment. Over the past couple of years I have seen a change in the market from it being a buyer’s market to it now being very much in the seller’s favour.

Previously, when the stock levels were higher, buyers had their pick of properties and could, to a certain degree, dictate the price they were willing to pay. Closing dates are now being set on almost every property we sell and buyers are having to put their best offers in to secure the home they want.

To sum up, I believe 2018 will be a great year to maximise the full value of your home”.

If you would like to arrange a Free, No Obligation, Marketing Appraisal of your home please give our Property Sales Team a call on 0131 202 1868 (7 days).

 

Blackadders LLP
@BlackaddersProperty
www.blackadders.co.uk

Are Legal Standards for Minimum Energy Efficiency for Properties the same North & South of Hadrian’s Wall? 

 

In short the answer is NO.

In England and Wales, regulations which are due to come into force on 1 April 2018 will potentially affect the ability to let out properties and the market value (and marketability) of those properties. The regulations will prevent private Landlords from letting either residential or commercial properties with an Energy Performance Asset Rating (EPAR) lower than E (unless they can point to a specific exemption).

The equivalent regulations for buildings in Scotland do not impose a minimum EPC rating requirement but other measures apply that are already in force for commercial properties.

Landlords, investors, developers and lenders should take note of the differences and not assume energy efficiency policies are the same throughout the UK.

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JM table 2

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*Non Domestic EPC Register for England and Wales
*EPC Register for Scotland

Registers can be searched using the property’s postcode so the easiest way to determine whether or not a valid EPC exists for your property is to check online: Non Domestic EPC Register for England and Wales or EPC Register for Scotland.

If you have any queries regarding energy efficiency requirements for properties, please get in touch with your usual contact in the Property team at Blackadders.


JWMJohn McKie,
Partner

Commercial Property
Blackadders LLP

@LawyerJohnMcKie 
www.blackadders.co.uk

 

IS THIS THE WINTER OF OUR DISCONTENT – PROPERTY MATTERS

Welcome to the first property blog of 2018!  Rest assured that this year will see more property blogs. I predict that 2018 will be a very interesting year for the property market. Before I give you my predictions for 2018 though, how did I get on with my predictions for 2017?

Looking at my blog on the 9th of January last year I predicted a 5% decrease in market activity with a slight increase in house prices averaging around the 2% to 4% mark.  Whilst I think I was correct in relation to the general road of travel, the decrease in activity in the property market (especially in the second half of the year) appears to have been steeper than even I had predicted. As yet, I have not seen the final stats for 2017 and obviously there are geographical differences to take into account, but I would predict that Scotland overall would show a decrease of between 10% and 15% in relation to properties coming on to the market, with a perhaps more significant increase in average house prices, probably around 5%. There have been recent reports advising that November saw the sharpest drop in mortgage approvals for a number of years and as different areas start issuing their stats, I think this general downward trend will be repeated. Dundee flats - LDD blogOn to 2018 and I am actually looking at this year with more optimism than the last year. What is the reason for the optimism? Like a bottle of champagne being constantly shaken, the housing market, with its links to lifestyle choices, will eventually not be contained no matter what the economic background. I suspect that 2018 particularly the second half of the year will show this and although uncertainty around Brexit will continue it will become something that we live with. As economic uncertainty fades and as general lifestyle requirements kick in, I think we will see an increase in activity in the housing market.   I also think that developers sensing the lack of supply and price inflation, have now started to increase their build output. I believe that this will be the oil that greases the wheels of the property market especially if the developers offer part exchange and other incentives.

In relation to specific areas, I would comment as follows:-

1. ABERDEEN & ABERDEENSHIRE – I am starting to see green shoots of activity coming through the Aberdeen property market and whilst it will take some time for the extra stock to clear, I do believe that Aberdeen is on the cusp of recovery. Although we will not get back to the highs of pre 2010, we will over the next 18 months move very quickly towards some form of normality and a free flowing market.

2. DUNDEE – As the V&A moves towards its opening and Dundee Council carry on with their exciting plans for the development of the waterfront area and the city in general, I do think that Dundee is on the cusp of very exciting times in relation to the property market. In particular watch this space in relation to flats down at the waterfront which are looking very reasonably priced and very attractive for investors and also residents.

3. ANGUS – The Angus market continues to prove robust and as Aberdeen continues to improve expect more of this heat to work its way down the coast, in particular Montrose, Brechin, Arbroath, etc.

4. PERTH & PERTHSHIRE – This market is proving very difficult as its driver in the early 2000s was the heat from the Edinburgh market. Unfortunately, I cannot see a big increase in the Perth property market, although I do predict more stability and a slight increase in activity.

5. FIFE – This also appears to be a difficult market, however with some hot spots, St Andrews in particular proving very popular and prices continuing to exceed expectations. Again, I predict a degree of stability in the Fife market.

6. EDINBURGH – I see potential for further growth in the Edinburgh market. I think that the developers will continue to produce stock for this market and as such, I am anticipating some significant growth, both in terms of activity and prices in 2018.

7. GLASGOW & the WEST – Again, I am seeing positive signs and think that in particular the second half of 2018 will show significant increases in activity in the Glasgow market fuelled by a mixture of newbuild development.

Overall, I am predicting a slightly quiet first three months for 2018 with a steady increase in activity for the remainder of the year culminating in activity levels being up by 10% and prices increasing by 5%.  As always, watch out for the first quarter figures as this will be a good indication. The phrase “more optimistic than last year” probably sums up my feelings.

I will continue to provide blogs on aspects of the property market and also watch out for some interesting additions, including “dinners for winners” – my take on the late, Michael Winner’s weekly column in the Sunday Times.

Finally, I would wish all readers a happy and prosperous 2018.

LDDLindsay Darroch
Partner
Blackadders LLP
@LindsayDarroch

www.blackadders.co.uk

 

Enjoy the festive period but don’t let the hangover last until Spring.

Christmas is almost upon us with only 3/4 weeks to go until, for most, the festivities and over indulgence begins. Those thinking of selling their home will now put this firmly to the back of their minds and will be replaced with thoughts of presents, sleeping in front of the TV and Strictly Come Dancing Christmas Special.

However, this may be the perfect time to consider selling and preparing the house to hit the market after the party season has finished. Traditionally the months of January and February see less properties arrive for sale but is an excellent time to sell as the majority of house sellers will normally wait until Spring to sell. What does this mean for you if you decide to sell sooner?

  1. Less houses for sale increases your chance of a quicker successful sale and hopefully more than the Home Report value. Giving you peace of mind.
  2. You will be in a strong position to purchase a property a little later with more choice available.
  3. More buyers will be inclined to take your offer as you have been pro-active and are less of a risk than a buyer who has yet to sell.
  4. As you will have more choice, due to the increase in properties for sale, you will be less inclined to make a panic purchase then going through the process again in six months’ time.   

If you have decided that you are not going to extend, renew the kitchen or replace the bathroom, but instead sell your home in the New Year, I would urge you to book a free valuation now to prepare for the beginning of 2018 staying ahead of your competitors and make appropriate plans to ensure your house stands out against what little competition you will have.

At Blackadders we offer professional photography, quality brochures with floor-plans, buyers’ bank, social media (Twitter & Facebook), extended opening hours and website portals that suit your individual needs, all as standard.

Enjoy the festive period but don’t let the hangover last until Spring. Be two steps ahead.


Neil Fyall – Estate Agency

Senior Property Branch Manager
www.blackadders.co.uk

Three good reasons to market your property in Winter

The traditional mind-set of most sellers is to market their property in Spring. I can see the logic to this as we start to see more daylight and gardens are once again presentable. However, I would highlight a few less obvious reasons to get in ahead of the crowd:

1. There are less competing properties coming to the market during winter. This increases your chances of interest, viewings and of course offers.

2. A lot of buyers don’t choose when they are in a position to buy. This is an important point as most sales are part of a chain it’s worth keeping in mind that your buyer may sell in winter through no choice of theirs. This then frees them up to make an offer on a property, which could be yours.

3. The internet is another reason that the market moves all year round. Buyers can now access a huge amount of information and media from the comfort of their own home. Between extensive photography, floor plans and in some cases video footage in addition to the home report, a buyer really can accumulate significant knowledge before setting foot through the door. This makes life so much easier for buyers and breaks down the traditionally seasonal barriers.

As someone who chose to market their property in December in recent years I can honestly say I have put my money where my mouth is!

If you would like to look further into marketing your property contact Blackadders for a free, no-obligation property valuation. We would be delighted to assist you in making an informed decision.

Brian Main, Estate AgencyBrian Main
Angus Area Manager

www.blackadders.co.uk
@BlackaddersLLP