Record price paid

Market soaring for top end homes in Scotland

For sale, sold, homes, housing, property

Properties are selling fast (pic: Terry Murden)

Sales of top of the range homes in Scotland have broken records with one attracting the highest price ever paid north of the border.

Country locations are leading the market, though demand in cities and suburbs is rising, with demand outstripping supply.

The number of agreed sales in Scotland above £500,000 during October was 38% higher than the average for the same month between 2017 and 2019, according to data provide TwentyCi.

Sales above £400,000 reached an all-time record of 8,755 between September 2020 and August 2021. This is 75% more than the pre-pandemic three-year average.

Overall Scottish transactions (Sep 2020-Aug 2021) reached 122,412, the highest level in 13 years.

There were a record 435 transactions above £1 million during the 12 months ending August 2021, including the highest price ever paid for a residential property in Scotland.

Country locations have led the prime market over the last year: transactions above £400,000 during the 12 months ending August 2021 were 122% higher than the pre-pandemic average.

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