Million sellers on the up

Kitchen in New Luxury Home

An annual £1 million-plus market review from Rettie shows that top-end properties valued at £1m or more returned to pre-LBTT levels in 2016 – and Scottish buyers remain the dominant force, accounting for just under 80 per cent of all sales.

Rettie sold a quarter of homes over £1m last year and two-thirds of all properties in Scotland over £2m.

And while the review reveals Edinburgh’s New Town accounted for one in five of the over-a-million sales, it also shows new build now accounts for 17 per cent for the market – up from just six per cent in 2015.

On the other hand, Aberdeen’s on-going oil doldrums meant the £1m-plus sales fell to about half 2015 levels.

Source: heraldscotland

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