February Newsletter 2014

Posted on

This month's newsletter contains some information on two new offers, as well as an updated Property Centre Market Report.

Special Offer: VAT Free Estate Agency

Mackenzie and Cormack are proud to offer VAT free estate agency services (or price adjusted equivalent) for all new property insertions up to 20th April 2014. This offer is subject to additional marketing outlays.

To take advantage of this offer please contact our office using the contact details below:

20 Tower Street, Tain, Ross-shire, IV19 1DZ
Tel: 01862 892046
Email: mail@tainlaw.co.uk

Eden Court: Make a Will Month

This February we are taking part in Eden Court's Make a Will Month. During this month we are waiving our usual fee for drafting a Will in return for a donation to Eden Court. The minimum donation is £50 for an individual Will or £80 for mirror Wills for a couple. Alternatively, you can also choose to leave a donation to Eden Court in your Will.

Your gift will ensure that Eden Court’s outstanding programme of theatre, music, dance and film will continue to delight, challenge and amaze people of all ages. 

Please contact our office if you would like to take advantage of this offer.

For more information on Eden Court please visit:

www.eden-court.co.uk

Property Centre Market Report:

National Comment: Buyer activity up as Scottish housing market conditions strengthen

Latest figures from SPC Scotland have shown that the number of homes sold during the fourth quarter of 2013 rose by over 36% annually and to the highest level for the quarter for six years. The average house price in Scotland also rose but at a much more modest pace. A 4.8% annual increase brought the average house price north of the border to £179,223.

Commenting on the figures Peter Ryder, chairman of SPC Scotland said: "The number of homes selling across Scotland rose throughout 2013 and the rate of growth accelerated as the year progressed. In the third quarter sales were up 29% annually and this was followed by a rise of over 36% during the fourth quarter. The economic picture last year was brighter than had been widely expected and activity among first time buyers and buy-to-let investors in particular grew strongly.

"Although house prices are now rising in most areas the of growth is comparatively modest at just under 5%. In areas where larger rises were recorded these generally offset falls the previous year and vice versa."

"Importantly, we're starting to see the number of homes coming onto the market rise as the improvement we've seen over the last 12 to 18 months has encouraged more sellers to test the market. This growth in supply is likely to continue into 2014 and should help to keep house price inflation under control as we move forward."

Local Comment: Highlands

The total number of sales recorded by Highland SPC during 2013 rose by 16% annually. This marked the first years since 2007 that a rise in sales had been recorded in the area. During the fourth quarter of 2013 more than 340 properties changed hands, a year-on-year rise of just over 14%/ The average house price recorded in the fourth quarter declined by 5% annually from £168,013 in 2012 to £159,587 in 2013.

Commenting on the figures Sarah Woodcock, manager of HSPC, said: "The 2013 figures are certainly encouraging, with the number of homes sold improving although the average price is down fractionally."

"Closer examination of the figures reveals that the number of active properties has fallen by 20%. This is a substantial reduction and it indicates that houses in the Highlands are now selling more quickly. Some of the pent-up demand that has been building up over recent years is turning into sales and more people now feel they are able to make their move. This is the result of a number of factors, most notably easing of the mortgage supply and growing confidence from potential buyers in the own financial prospects."

Quick Stats - January - Year on Year

The total number of houses sold by the HSPC in January 2014 compared with 2013 has seen an increase by 22%. The sold value for January has also increased by 22% over the period, from £10.261m to £12.478m.

The rolling quarterly average has decreased by 5% compared with January 2013. The average house price has increased by a small amount over the period, to £157,949 from £157,861.

The average house prices, based on sales are as follows:

Flat (£116,697); Bungalow (£189,632); Semi-Bungalow (£119,125); Villa (£234,683); Semi Villa (£146,006).

The HSPC has seen a 16% increase in property insertions, with 57 insertions in January 2014 compared with 49 in January 2013. There has also been a 3% increase in the number of enquiry visitors to the HSPC website, with 111,420 visitors in January 2014 compared to 108,079 in January 2013.

Main Office: 20 Tower Street, Tain, Ross-shire, IV19 1DZ Tel: 01862 892046 Fax: 01862 892715
Satellite Office: The Property Shop, 20 Bridgend, Beauly, Inverness-shire, IV4 7EJ Tel: 01463 783111 Fax: 01463 783211
design & program by plexus media