Rettie's private sector property research team provides thorough and bespoke analysis, based on reliable and up-to-date information, led by Dr John Boyle, who has over 15 years of experience as a property economist. Our researchers provide the very best market intelligence and work across a broad range of projects locally and nationally.
2022 was an eventful year by any standards. Russia's invasion of Ukraine triggered a number of significant effects, with rising energy costs fuelling inflation and contributing to an ongoing cost-of-living crisis, while significant political upheaval during the year has led to economic turmoil.
Responding to a perception of an overheated rental sector partly contributing to a cost-of-living crisis, the Scottish Government has attempted to apply a 6 month freeze to the market. This rent freeze, for all private sector and social sector residential rents, will run until the end of March 2023, with the possibility of an extension beyond this date. A ban on evictions is also running alongside the rent freeze.
In 2021, the Scottish market for homes worth over £1m witnessed an unprecedented level of activity. 2021 saw a surge in sales, with 419 homes sales registered, up from a previous high of 289 seen in the 2007 market boom. The total value of £1m+ house sales in Scotland jumped to £583m.
As we emerge from lockdown restrictions and start to enjoy sharing a meal indoors with friends, visiting family members and perhaps dreaming of a foreign holiday, or at least a staycation somewhere in Scotland, the housing market remains the primary preoccupation for many households.