Scottish £1m+ market returns to trend | 2016 Review

Scottish £1m+ market returns to trend, but with significant rise in £1m+ new build properties. We are delighted to release our annual £1m+ market review, courtesy of the Rettie & Co. research team, Scotland’s largest dedicated property research team.

In a year where global politics diverged from convention, the 2016 Scottish £1m+ home market returned to trend after the upheaval of 2015, but with a few notable differences.

 

KEY FINDINGS:

  • Rettie & Co. sold 1/4 of £1m+ homes, and 2/3rds of £2m+ homes in Scotland in 2016.
  • The £1m+ market is up 8% on 2014, pre-LBTT levels.
  • Aberdeen £1m+ sales almost halved from 2015 levels as the market remains melancholic.
  • New Build now accounts for 17% of the £1m+ market, up from 6% in 2015.
  • Edinburgh’s New Town accounts for one in five £1m+ sales.
  • Scottish buyers remain dominant, at just under 80% of all £1m+ home buyers.
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...

Andrew Meehan
Associate Director
Edinburgh Read More