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Sale of £1million homes in Scotland go through the roof...would you live in a house like this?


18th May 2015

www.scotlandnow.dailyrecord.co.uk
There was a boom in sales of £1million homes in Scotland just weeks before a new sales tax came into force.
A total of 36 properties with a £1m price tag were sold in March - the highest number ever in a single month.

It came before the Land and Building Transaction Tax replaced stamp duty on April 1.

The Scottish Government had claimed the new tax would raise roughly the same amount as stamp duty but Tories branded it a "tax grab" on property sales.

Two thirds of the £1m homes sold were in Edinburgh.
There was also a spike in sales of properties over £400,00 in March, with 644 sales registered compared with 238 in the same month in 2014.

The record sales have pushed up the average property prices in the capital.

Blair Stewart, of estate agents Strutt & Parker, said: "The massive spike in both Edinburgh and Scotland in the month before LBTT saw the average sale price in Edinburgh ride to £280,000. It had not risen above £240,000 since 2008.

It comes as a Bank of Scotland housing report found that house prices are rising in line with employment rates.

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About Home Reports

Home Reports have become an important part of selling or buying a home in Scotland. Sellers need the Home Report, containing a Single Survey, Energy Report and Property Questionnaire, in place, prior to marketing their property. Buyers benefit from the information provided in the Home Report. Onesurvey work with you and your estate agent every step of the way, guiding you through the process and getting your property to market as quickly as possible.

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