£1m+ sales in Scotland beat the Brexit effect | Market Briefing 2018

With Brexit dominating the headlines, and being blamed for weakening housing market sentiment nationally, the Scottish £1m+ market was contrarian in 2018, reporting a 25% increase in activity and recording the highest level of activity in a decade. With over 130 £1m+ sales in Edinburgh, the West Coast seeing such activity increase by over 50%, and even increases in this market in Aberdeen, the statistics may seem surprisingly strong. However, with comparatively positive economic indicators and market fundamentals, combined with the value in the Scottish market, it is understandable why wealth is finding a home in Scotland.

We are delighted to release our Million Pound Report, courtesy of the Rettie & Co. research team, Scotland’s largest dedicated property research department.

Key Findings: 

  • Despite the ongoing Brexit rumblings and fears it is dampening sentiment in the housing market, the £1m sales market in Scotland experienced a 25% rise in activity over 2018.
     
  • Edinburgh accounted for over 60% of these sales and over 100 £1m+ sales occurred in just 5 Edinburgh postcode districts.
     
  • However, other parts of Scotland also showed increasing activity levels, including Glasgow and Aberdeen.
     
  • New build activity continues to have strong presence in the £1m market, accounting for nearly 1 in 5 of all such sales in Scotland.


Press coverage:
Insider.co.uk
Scottish Field
The Scotsman
Mail on Sunday (print)
About Andrew Meehan

Andrew re-joined the Rettie & Co. Research Team at the start of 2015 having originally worked for the company from 2005 to 2010. Andrew has an MA (Hons) from Edinburgh University and an MSc in...

Andrew Meehan
Associate Director
Edinburgh Read More