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.
The latest Build to Rent (BTR) Market Review from Rettie shows that strong underlying market fundamentals have kept Scotland’s BTR sector alive, however, there has been very slow progress over the last year and no new investment in the sector for the best part of two years. While a number of schemes have achieved practical completion over the last 12 months, 2024 to date has seen the fewest number of new units entering the pipeline since 2015.
Over the last 12 months, 13 of the top 20 settlements in Scotland (ranked in terms of average house price) were located by the coast. Elie and Earlsferry took the number one spot with an average house price of £869,459. Gullane in East Lothian was second, with an average house price of £504,139, while St Andrews came in third, with prices averaging £490,361.
As we have passed the close of the financial year, it is time to take our annual delve into the performance of Scotland's Land & Buildings Transaction Tax (LBTT), in order to see how returns and receipts have performed across 2023/24 compared with previous years.
The East Lothian housing market is flourishing, boasting the second highest average house price in Scotland, trailing only behind Edinburgh. This growth, with a notable 2.8% increase in the past year, underscores the area’s appeal with its diverse lifestyle options and excellent transport links to both Edinburgh and London. We discuss in this briefing how these unique lifestyle opportunities have been pivotal in sustaining demand in the local market.
As East Lothian locals know, the area is well known for having its own unique microclimate. Rain may be settled over the capital, but a short drive east will often reveal blue skies and a warm breeze. This happy distinction is also true of the East Lothian housing market.