A warm welcome to Prestige Scotland, a property lifestyle magazine celebrating luxury living. Within each edition, we will shine the spotlight on all things stylish in Scotland, bringing you the very best in property, culture, motoring and much more.
Rettie are delighted once again to feature a number of spectacular properties, from our Residential, New Homes and Lettings teams. Don’t hesitate to get in touch with one of our property experts to find out more.
After almost six months in the role, this edition also features a special piece from Rettie Commercial Director, Neil Cunningham:
“Cost of living crisis! Sharp rises in living costs, slowing down of our economy, higher interest rates and the Bank of England warning the UK is heading into a recession!
Who wants to sell their property during this crisis or even buy with knowing the economic uncertainty is going to get worse with the second energy price hike coming in the autumn. As property experts we can’t ignore how this could affect our property market, but we are still seeing positive signs when it comes to buying and selling property.
During the last two and half years we have seen some very unusual, but incredibly rewarding trading patterns. For the first time this year we have seen our summer market move to the traditional slow down we would normally expect during this time. As soon as people could, they have taken their holiday abroad rather than in the UK.
With summer ending, the enquiries are coming back strongly. Our market will always be driven by supply and demand. We still have the imbalance of more buyers looking than property available; at Rettie we currently have 4 buyers for every property we take onto the market. If sellers have a quality property, in popular city locations, they will sell quickly with offer levels well exceeding any home report values. Until we can build more homes, supply and demand will continue to drive our market in a positive direction and increase capital values.
With Autumn approaching, there are two things we must watch out for. First our solicitors, they are under pressure. Like all of us, they can’t recruit people fast enough to cope with the demand. Time to missive is increasing and we must keep an eye on this while keeping in close communication with buyers and sellers confirming the market is still positive.
Secondly supply, sellers may choose not to sell during this crisis period putting more pressure on demand. Continuing to drive prices up, resulting in competitive bids. As much as we read the negatives in our world today, property will continue to outperform most, if not all asset classes.
Many of the agents you could be speaking with today have experienced similar crisis and will be experts with advising you how to navigate this market. Choosing an agent will be key during this time, maturity will win for all parties involved.”
Neil Cunningham
Commercial Director
Rettie
You can be one of the first to browse our properties in the Autumn-Winter Edition of Prestige Scotland magazine HERE.