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.
- 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.