NW Highland prices just went mad
Discussion
This place (Offers over £160k) just went for over £300k.
It has some land, but land is totally useless here, as you can't do anything with it.
Just for context; 40 years ago it would have been given away for free (really - happened a lot). 20 years ago it would have cost £20k. 5 years ago maybe £80k ... now £300k!
Views are astonishing of course, but where did that massive price rise come from in such a short time? Not just Covid surely?
It has some land, but land is totally useless here, as you can't do anything with it.
Just for context; 40 years ago it would have been given away for free (really - happened a lot). 20 years ago it would have cost £20k. 5 years ago maybe £80k ... now £300k!
Views are astonishing of course, but where did that massive price rise come from in such a short time? Not just Covid surely?
Well this one in Galloway (I know, not the Highlands) isn't moving in a hurry. Newton Stewart
From speaking to relatives who live in Lewis and Harris, it's often money from down South where perhaps £300k doesn't buy much so is a drop in the ocean. Perhaps in the past that money was buying holiday homes in Devon or Cornwall?
Fix it up, let it privately for part of the year to cover some costs, and then use it as a second home/holiday home.
Fix it up, let it privately for part of the year to cover some costs, and then use it as a second home/holiday home.
Edited by yellowbentines on Monday 26th February 17:15
motco said:
Well this one in Galloway (I know, not the Highlands) isn't moving in a hurry. Newton Stewart
No photo of the Swimming Pool which is odd
Meltham Terrier said:
motco said:
Well this one in Galloway (I know, not the Highlands) isn't moving in a hurry. Newton Stewart
No photo of the Swimming Pool which is oddsherman said:
Scottish Sun said:
"After New Year, people heard he had left the humble croft...
This is the "Humble Croft" Hardly a turf roof and dirt floor!
motco said:
Well this one in Galloway (I know, not the Highlands) isn't moving in a hurry. Newton Stewart
Spooky, I'd never heard of Newton Stewart but my cousin has just moved from NW Kent to the high street there. Their main reason for moving was to reduce costs as they were on an interest only mortgage.okgo said:
Remote work, and cheap housing - people who used to need to be in SE now can work remote with Starlink. I know personally of two people.
Yea. I did that nearly 20 years ago. Amazed that so few have followed.Out of interest, Starlink works for very few in Torridon as the satellites are too low in the sky, and at the wrong compass point, and the mountains are way too high! (Believe me, I've tried).
okgo said:
Remote work, and cheap housing - people who used to need to be in SE now can work remote with Starlink. I know personally of two people.
I guess if you were in the SE - say Kent on commute line to London - sell your house, buy a small flat if you need to be in London a week/month and cash the rest into something like this.There are worse ideas.
Starlink certainly fast round the west coast. I'd put pricing down to southerners buying up on a whim where 300k gets you nothing down south, that's a cheap plot for a shiny new build eco home & cheeky agents telling everyone from down south offers over means double at least.
Two of our neighbours bought sight unseen and one never visited the village prior to purchase. The views are amazing though so an easy sell on that front.
Two of our neighbours bought sight unseen and one never visited the village prior to purchase. The views are amazing though so an easy sell on that front.
My wife is from Oban we live in the Lakes where I grew up and there are some parallels. Lots of second property owners in Oban are from there and bought up second properties to rent out several family members and friends do this. There's also plenty from southern England that have sold up and made the move. It's making it very difficult to recruit for the service type jobs in the town a few cafés and restaurants have had to reduce their openning hours. Unlike where we're at there's not really anywhere to live cheaper that's within a commutable distance.
Even in the lakes the places outside the national park prices are crazy. With the current interests rates I don't know who's buying them but an EA I was chatting to said that at least 60% of sales are by buyers from outside of the county.
Government has a lot to answer for, cheap borrowing for too long and lack of rules and enforcement of local occupancy restrictions.
Even in the lakes the places outside the national park prices are crazy. With the current interests rates I don't know who's buying them but an EA I was chatting to said that at least 60% of sales are by buyers from outside of the county.
Government has a lot to answer for, cheap borrowing for too long and lack of rules and enforcement of local occupancy restrictions.
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