31/01/2012GS Residential review for January 2012

Following a relatively bleak December the residential market has again picked up its pace with many new properties coming to the market throughout January.
In turn, selling agents are reporting increased enquiry levels and viewings, undoubtedly helped by the milder winter weather being experienced so far this year. Additionally a large number of Replacement Home Report instructions have been received, indicating older stock is continuing to sell.  Despite the relatively depressed wider national and global economies, it would appear that Aberdeen and the surrounding Shire commuting towns continue to buck the trend somewhat.
Darroch Robertson, Associate, Aberdeen Office

The start of a new year is always unpredictable. However, we have seen a good level of Home Report instructions in January. I do believe it makes sense to bring a home to the market early in the year to take advantage of any prospective purchasers out there. We have also undertaken a similar number of Replacement Home Reports, an indication that properties that have been on the market are now selling or going under offer. Whilst not dismissing the challenging market we will be operating in, I have an optimistic outlook for the year ahead.
Graeme Lusk, Associate, Kilmarnock Office

Photo: Darroch Robertson, Aberdeen Office

20/12/2011GS Residential Review for December 2011

The market in December is very much as we expected, with reduced activity levels, indeed very much reduced numbers of new vendors taking their property to the market, however this is very typical of a normal December. I await with interest the New Year, as whilst I do not expect a sudden rush of new vendors, I would expect to see people starting to come out of the Festive period with thoughts of selling, and would anticipate a slight upturn during end of January into February and March 2012, when compared to the last 3 months.
Craig Henderson, Partner, Glasgow office

Approaching the end of 2011, as expected the residential market has cooled somewhat with the number of properties coming to the market in the last month greatly reduced.  This however has allowed existing stock to become more exposed and as a result we have noticed an increase in the number of Replacement Home Reports being instructed, indicating these have now sold.  Agents are also advising levels of enquiries remain reasonable with an increase in the number of people enquiring about going on the market in the New Year.  Let’s hope for milder weather over the coming weeks to maintain interest and increased activity in 2012.
Darroch Robertson, Associate, Aberdeen

Crossbasket Castle

Graham + Sibbald provided pre-purchase valuation advise in August 2003, and thereafter provided a report to submit to the funders. We also offered our input with regards to the proposed redevelopment scheme, including advice on product mix, style and size and provided updates in terms of values dependant on what scheme is progressed. The client has now owned the property for 2 years, and a children's day nursery is operating in part of the castle.

Department:

Residential

Partners:

Craig Henderson