While an equilibrium has been reached, with stock levels now more in line with transactions at the higher end of the market, progress is likely to be hampered by the introduction of Land and Buildings Transaction Tax (LBTT) and uncertainty in the lead up to the UK General Election.
Prime Scottish values in city locations increased annually by 5% during the last quarter of 2014, whereas rural areas fell by 1.5% over the same period. This has reflected the wider UK trend, whereby buyers of urban properties continue to be driven by catalysts, such as job relocation or schooling, keeping the market active. Rural buying decisions have been more discretionary.
Source : Savills