Tuesday, 19 June 2012
Homes In Scotland - Some Facts And Figures
It's always a delight - as well as a surprise - when a reader emails me about a post I've written and I'm very grateful so many take the time to write and keep me on the straight and narrow.
The case in point yesterday was this post and Mr Hordern has kindly given a link to his interpretation of the new Scottish Stamp Duty tax and I thought it may be of interest to you.
Some have said this will be another tax on the baby boomers who still live in the family home even though their children have long flown the nest, but that is not so. The elderly, if they do decided to sell, do so because their home is too large and/or expensive to maintain. Thus they will pay less tax on a smaller property and it's the younger generation with young families who will be hardest hit - once again.
He also affirmed Scottish property values are likely to be more sustainable than in other parts of the UK.
In my post I suggested that house prices had been pushed higher because of competition from 'outsiders' wishing to reside in an area. Mr Hordern had unearthed a paper from Chris Muir who is a Geographical Information Systems Analyst at the Registers of Scotland - an organisation which records every property transaction in Scotland. Mr Muir's evidence clearly states that the overwhelming majority of Scots buying a property in a given area already live in and around that area.
That may be in the central belt but here in rural Perthshire - in the past 20 years - there has been a large influx of 'incomers'. I am one of them as I've never lived in this area before but preferred a small community to the anonymity of a city. It could be, because I am an incomer myself, that I am more aware of others who have come to reside in this lovely part of the country, but I would suggest that Mr Muir's statistics, which are based on 'G' postcodes, is much higher in rural areas.
Of course I may well be wrong.
Note: Mr Hordern is the chief executive of the Glasgow Solicitors Property Centre.
For readers outwith Scotland: It's only in recent years that estate agents have become common in Scotland and the SPCs have had competition.