Surge reported in sales of £1m-plus homes

SCOTLAND last year witnessed an estimated 50 per cent increase in the number of houses sold for more than £1million – compared to the year before.

According to analysis issued by estate agents, Rettie: “Over the course of 2021, there were 419 registered home sales over £1m, which was almost 50 per cent higher than during 2020, which itself was the highest recorded figure since the 2007 market boom.”

The analysis was across the whole of Scotland – not just sales overseen by Rettie itself – and excluded the likes of farms, estates, land or commercial buildings.

Says Rettie, in an announcement (here): “Analysis of sales shows that the proportion of £1m+ homes being bought in urban areas has fallen from 83 per cent in 2019 to 76 per cent in 2020 and 2021.

“While the proportion of homes being bought in remote locations has risen, the most significant increase has been in accessible towns and rural regions outside main urban centres.

“This includes north of Stirling, east of Loch Lomond, in and around Newton Mearns, Melrose, East Lothian and the East Neuk [of Fife]. All these destinations offer high-quality lifestyle and houses, while maintaining connectivity with Scotland’s main economic centres.”

Picture credit: Rettie

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