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 Lured by low prices, large houses and land

 

Monday, April 07, 2003


House-hunters from England are being lured by Scotland’s relatively inexpensive prices, which means they are able to move up the property ladder, often buying large rural houses with acres of land, reports The Scotsman.

More than 40 per cent of the properties sold last year by CKD Finlayson Hughes and Cluttons (Scotland) went to English buyers, according to new research.

Fears over crime and terrorism in parts of England are driving some of the buyers, along with a perception of a superior quality of life in Scotland.

James Galbraith, the chairman of CKD Galbraith, said:

"We see an ever-growing demand for property from people either relocating to Scotland or purchasing a second home."

"They can get more for their money and, with cheaper airfares than ever, many of our clients are either commuting or working from home."

Nationwide’s latest housing survey shows the average property price in Scotland is £77,980, compared with the UK average of £119,938 and an average price in London of £211,891.

However, English buyers are often able to spend more and the average price for them buying in Scotland with CKD Galbraith was £190,000. Four in every ten homes sold by the company went to buyers from England.

Mr Galbraith said, "Even though Scottish prices have risen over the past year and there has been a downturn in England, there is still a significant property gap north and south of the Border. We have not seen anything like this since the 1980s, and houses are going for about 19 to 30 per cent over the asking price."

Most English buyers are shunning the big towns and cities as prices are higher there and many people are looking for peaceful retirement or holiday homes.

 
 
     
     
 

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