Scotland’s markets outperformed those of her English counterparts in 2006, with average values rising by 11% compared to 10% in the UK as a whole. The Savills Scottish Spring Residential Review showed prime Scottish country house values grew by 16% in 2006, the highest of all the British country house markets for the fourth year running.
House prices in the areas around Edinburgh and Glasgow ? the traditional hotspots ? are still thriving. Areas such as Gullane, North Berwick, Gleneagles and St Andrews continue to command the highest prices in Scotland. A lack of stock and a highly competitive student and buy to let market have ensured the Edinburgh and Glasgow city markets both flourished in 2006. Properties in the Borders and Grampians are also experiencing significant price growth.
‘Annual growth rates for prime country house values in Scotland have increased since the beginning of 2006 and have remained consistently higher than British prime country house values growth rates,’ said a Savills spokesperson.
Property experts remain extremely positive about the Scottish market’s performance in 2007. Big bonus payouts and market optimism will contribute to the strong demand for exclusive properties. ‘We are forecasting 7% growth in mainstream Scottish values in 2007,’ said the spokesperson. ‘However we expect the prime country house markets to outperform the mainstream market in the short and medium term.’
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