Surge in Scottish home purchases

March 16, 2016

Highest January home sales in eight years according to the  Your Move & Acadata Scotland House Price Index report.

Scotland sees highest January sales since 2008, up 24% year-on-year with rush to avoid Land and Buildings Transaction Tax (LBTT) surcharge.

Biggest uplift in Midlothian, rising 38% on January 2015, as flats and terraced houses are snapped up,  average Scottish house prices advance 0.8% in January to £171k, up from 0.3% the previous month

Strongest surge in Stirling, where property values in the area have jumped 13.5% over the past year

Christine Campbell, Your Move managing director in Scotland, comments: “The Scottish housing market made a bracing start to the year with the highest January sales since 2008. Property transactions in Scotland are up 24% year-on-year, easily outpacing sales south of the border, as England and Wales only saw a 1% rise over the same time period.

“The surge in Scottish home purchases has been propelled by second-home and buy-to-let buyers eager to avoid paying the 3% Land and Buildings Transaction Tax (LBTT) surcharge. As this tax hike was only announced in December’s Scottish Budget, January’s surge in sales may only be the tip of the iceberg”.

Read the Your Move & Acadata Scotland House Price Index report in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Six UK vineyards where homebuyers avoid the 84% premium

Six affordable UK vineyards where homebuyers avoid the 84% house price premium and toast a better deal The latest research from Yopa has revealed that living close to one of the UK’s top vineyards will set homebuyers back an average of £494,739, 84% more than the current UK average house price. However, there remain a…
Read More →
Breaking News

Red tape slashed to revamp high streets with new cafes and bars

Communities and town centres across the UK are set to benefit from a wave of new cafes, bars, music venues and outdoor dining options, as the Government slashes red tape to breathe new life into the high street. Government to overhaul planning and licensing rules to make it quicker and easier for new cafes, bars…
Read More →
Breaking News

London’s prime parks command 86% property premium

The latest research from Jefferies London has found that buyers hoping to live within arm’s reach of one of the capital’s royal parks will need to stump up a serious property price premium, with the average price of property around these green spaces coming in 86% higher than the average London house price. Jefferies London…
Read More →
Planning disputes on new build land
Breaking News

Padel Boom Sparks 113% Surge in Planning Applications

17,000 UK Sites Ripe for Development New insight from Searchland reveals that planning applications for padel courts surged by more than 113% in 2024, with the upward trend expected to continue throughout 2025. The explosive growth of the sport in the UK has unlocked a wealth of potential for developers and investors, with Searchland estimating…
Read More →
Breaking News

Property values rise at 5.3 times the rate of earnings

House prices across Britain rise at 5.3 times the rate of earnings in the last year The latest research from eXp UK has found that the average house price in Great Britain has increased at 5.3 times the rate of average earnings over the past year, highlighting a widening affordability gap for homebuyers. eXp UK…
Read More →
Estate Agent Talk

London homes with a patio prove hot property,

The latest research from Benham and Reeves has found that London homes offering a patio have become highly sought after, with 41% of all patio-equipped properties currently listed already snapped up by eager homebuyers. However, potential buyers dreaming of a summer-ready outdoor space might face challenges, as only 8% of properties currently on the market…
Read More →