Highlands and Islands property market defies the headlines

The property market in the Scottish Highlands and Islands has been booming for some years and despite signs of a slowing market elsewhere, prices remain strong in the North and West of the country.

With mortgage rates rising and rumours of house prices stagnating, you could be fooled into believing the Scottish property market is about to crash. But our experts in Oban and Beauly are seeing no let up, with predictions that growth is to slow yet to be seen in practice.

In fact, Andrew Fuller, Bell Ingram’s Estate Agent in Oban, recently secured a sale for a home achieving 100% over the asking price, which put paid to the fact that buyers are no longer willing to offer such large sums over the home report value as we have seen post pandemic. Most recently Andrew and his team also secured two notable sales of over £1million for homes in some challenging conditions.

This is just one example, but it would appear to be backed up by the latest figures from Registers of Scotland that show the price of a detached home is up by 13% to £349,000 on average with the biggest increases seen in the council areas of Argyll, Highland and the Islands.

Similarly, Joanne Stennett, our Estate Agent based in Beauly in the Scottish Highlands, is still experiencing huge demand in the region with houses regularly going to closing dates and achieving in excess of 10% over the asking price.

Interest in both the Highlands and Islands remains strong with a constant stream of enquiries from buyers south of the border, and increasingly from the Central Belt. This demand for houses in the regions has remained strong since the pandemic and off market deals are becoming common place as buyers vie for properties before they reach the open market, such is the competition for stock.

Despite a recent uptick in house prices in the regions, they continue to be favourable to those further south and Joanne believes this will only continue as mortgage rates squeeze buyers out of already expensive property markets.

There is one thing Andrew and Joanne do not have on their side while working in some of Scotland’s most regions is and that is the weather. As we look towards the end of this year and early 2023, it will be the only thing holding them back.
If you are interested in taking advantage of this strong market speak to your nearest Bell Ingram office about our free market appraisal service.

Our people

Andrew Fuller

Andrew Fuller

Senior Associate
Estate Agency
Tel: 01631 566 122

About: Andrew heads up the Estate Agency team in our Oban office and is focused on ensuring his clients have a first-class experience when they list their property with Bell Ingram. A resident of the Isle of Mull, Andrew is very well known across the West Coast of Scotland and has developed an excellent reputation for marketing prime residential property, including plots, crofts, island homes and lifestyle opportunities. Andrew joined Bell Ingram following almost 15 years managing several high-level private and commercial development projects in the United Arab Emirates. Interests: Residential Estate Agency, Rural Property Sales.

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    Our people

    Joanne Stennett

    Joanne Stennett

    Associate
    Estate Agency
    Tel: 01463 717 799

    About: Joanne heads up the Estate Agency team in our Beauly office and is focused on ensuring her clients have a positive experience when they list their property with Bell Ingram. From country houses to farms and estates, she has been marketing prime residential property in the Highlands and Islands for over 17 years. Joanne is well known in the local area, having developed excellent relationships with buyers and sellers. Interests: Residential Estate Agency, Rural Property Sales.

    Get in touch

    We'd love to hear from you, use the form below to email me direct

      Article posted on 12/09/2022

      Bell Ingram Can Help You Achieve Your Agritourism Dream

      The UK’s staycation market has never had it so good! Already gaining popularity before the pandemic, there’s no doubt that coronavirus has significantly accelerated the demand for holidaying at home.

      Farmers and landowners looking for alternative revenue streams have embraced the opportunity to maximise their assets, and the high quality of many of these enterprises is giving foreign holiday destinations a run for their money.

      Why bother with the hassle of flying abroad when you have luxury holiday lets and glamping experiences on your doorstep? Or the convenience of soaking up our beautiful scenery from the comfort of your motorhome.

      The push to develop the sector is well underway in Scotland with the industry goal to have 1,000 Scottish farming and crofting enterprises offering an agritourism experience, with at least 50% providing a food and drink element by 2030.

      If successful, this could be worth £250m to the economy, potentially supporting 10,000 full-time jobs by the end of the decade according to the first Scottish Agritourism Growth Tracker report which was compiled by VisitScotland on behalf of industry body Scottish Agritourism.

      Agritourism is definitely becoming a growing travel trend and at Bell Ingram we are working with many clients who have already dipped their toes in this lucrative market.

      However, if you are considering renovating farm buildings into holiday lets, creating a glamping facility or simply allowing motorhomes to access to your fields, there are a lot of things you must consider first … and Bell Ingram’s multi-disciplinary team of rural land and property experts can help you get started:

      Valuations – Our RICS registered valuers can provide valuations for all types of rural property, including holiday letting and rural tourism. Our team of professionals provide valuations for a wide range of rural property types and we routinely work for private, corporate and public sector clients, as well as banks and other lenders.

      Landlord/Tenant – Tenants must gain the permission of their landlord proceeding with any new business development opportunity. If there are projects you would like to pursue, our experts can advise tenants how to approach this in the best possible way.

      Architectural Services – Whether it’s renovating an existing farm building to create a holiday let or preparing a 3D visualisation of a visitor centre, BID’s architects and technologists have s strong track record of working on agritourism projects of all sizes. BID also works with clients to identify sites for potential projects.

      Planning – Working closely with Land Agents and Architects, our Planning Consultant can provide clients with expert advice to turn your ambitions into reality. Using a professional planning consultant takes the guesswork out of the process, ensures work proceeds smoothly which could save you money in the long run.

      Microgeneration & Renewables – Bell Ingram have been providing independent and un-biased advice to private clients on all aspects of small-scale renewable energy schemes for almost 25 years. Our expertise ensures optimum payback on hydro, wind, heat pump, biomass heating, solar thermal and photovoltaic (PV), energy storage, community heating, and combined heat & power (CHP).

      AMC – The first key component is how you plan to finance your agritourism enterprise. Bell Ingram’s highly experienced network of AMC agents can organise loans for clients looking to raise fund to get their project off the ground.

      *Bell Ingram is a member of Scottish Agritourism Network and our staff will be attending the upcoming Scottish Agritourism Conference at Perth Concert Hall on Tuesday 6th and Wednesday 7th November. Look out for our distinctive blue gilets and stop us for a chat!

      Our people

      Rhona Booth

      Rhona Booth

      Senior Associate, MRICS
      Rural Land Management, Valuations
      Tel: 01307 462516

      About: Rhona is a highly experienced RICS Chartered Surveyor and Registered Valuer working across Perthshire and Angus advising on all aspects of estate and farm management, including landlord and tenant negotiations, telecommunication mast agreements, utility projects and CPO compensation claims. In addition, Rhona can undertake a range of rural valuations for a variety of purposes as a Registered Valuer. Rhona joined Bell Ingram in 2020 and has over 20 years’ experience in the sector. Interests: Rural Land Management, Valuations, Utilities, Renewable Energy, Agricultural Tenancy Advisor, MRICS Registered Valuer.

      Get in touch

      We'd love to hear from you, use the form below to email me direct

        Article posted on 12/09/2022

        Bringing Maps to Life

        By Mhairi Walker, GIS Technician

        The world of GIS Mapping is changing and 3D visualisation is enhancing 2D capabilities – taking clients into another dimension.

        Working alongside colleagues in forestry, Bell Ingram’s GIS team have begun work on 3D visualisations for new woodland creation schemes.

        Over the years, GIS has made a significant impact in showcasing mapping as an essential tool to interpret spatial data. 3D GIS visualisation depict objects in greater detail by adding a third dimension that allows for real scale representation of real-life objects.

        3D visualisation is nothing new, but traditionally these models would be laid out in physical form. Nowadays, with the help of more sophisticated technology, such as our ArcGIS based system, we can not only envisage and evaluate in one place, but also manage all the necessary facts and figures.

        Visualising in 3D is becoming increasingly popular in the forestry sector because areas of woodland can be accurately interpreted and, crucially, visualised over their life span. Incorporating our 3D technology into GIS customises the whole experience for clients, making it more personal and enabling greater detail and visualisation.

        This is particularly helpful when applying for grants and engaging with public consultations, as regulating bodies and neighbours can really get a sense for the impact the proposed forest will have on the landscape, helping to strengthen the public consultation process.

        On top of this, we can accurately depict the forest over its entire life span, for example, showing the growth rate over a ten and 20 year period. There is also the ability to account for a mix of species and death rate, which is crucial when characterising new commercial and even non-commercial woodland schemes for the duration of their existence on the landscape.

        This ability to accurately show the change on a landscape over time in 3D, clearly has benefits that reach beyond the forestry industry. Bell Ingram’s utilities department will also be benefit from the ability to contextualise renewable developments and infrastructure projects for all stakeholders.

        3D visualisation is a natural evolution for GIS and the possibilities are truly endless. Introducing 3D to forestry and rural land management is an exciting development for the firm and I am delighted to be able to champion this progress.

        If you are interested in 3D GIS visualisation, get in touch with our GIS technician, Mhairi Walker on mhairi.walker@bellingram.co.uk or 01738 621121 to discuss your needs. For more information on our GIS Mapping service visit bellingram.co.uk.

        Copyright

        Maxar, Microsoft | Source: USGS, NGA, NASA, CGIAR, GEBCO,N Robinson, NCEAS, NLS, OS, NMA, Geodatastyrelsen and the GIS User Community

        Our people

        Mhairi Walker

        Mhairi Walker

        GIS Analyst, BSc MSc
        Utilities & Renewables, GIS Mapping, Forestry
        Tel: 01738 621 121

        About: Mhairi is responsible for providing spatial analysis, data management and cartography to clients in the renewable energy, utilities, rural land management and forestry sectors. She joined Bell Ingram in 2021 and is a graduate of the University of Edinburgh with a Masters in Geographical Information Science. Interests: Mapping, GIS Services.

        Get in touch

        We'd love to hear from you, use the form below to email me direct

          Article posted on 01/12/2022

          Legislation Freezing Rents & Evictions Passed in Scotland

          The Cost of Living (Tenant Protection) (Scotland) Act 2022 was been passed by the Scottish Parliament last week.

          The Scottish Government says the Act temporarily:

          • Restricts landlords from increasing the amount of rent they can charge private and social tenants, as well as for student accommodation.

          • Places certain restrictions on enforcement of evictions from residential tenancies.

          • Balances these restrictions with safeguards for those landlords who may be facing particular cost pressures or financial hardship.

          The rent cap, which applies to in-tenancy rent increases, has initially been set at 0% from 6 September 2022 until at least 31 March 2023. Ministers have the power to vary the rent cap while it is in force.

          Enforcement of eviction orders resulting from the cost crisis are prevented over the same period except in a number of specified circumstances, and damages for unlawful evictions have been increased to a maximum of 36 months’ worth of rent.

          The measures can be extended over two further six-month periods.

          You can view more information on the Act here

          https://www.mygov.scot/rent-cap-landlords

          https://www.mygov.scot/eviction-pause-landlords

          If you are landlord speak to your Bell Ingram Land Manager about how the emergency legislation will affect you.

          Article posted on 31/10/2022

          Carl Warden gives us the latest on markets and mortgages

          It was inevitable that the fall-out from the mini budget and its controversial tax cuts would manifest itself in the housing and mortgage markets because the cost and availability of credit is a significant driver of the market.

          Therefore, it comes as no big surprise to see mortgage lenders suspend many rates and deals as they gather their breath before attempting to reprice the market.

          It goes without saying that any big jump in the mortgage rate is a major concern for those who are buying houses at the moment. But, if you like the house, you can afford it and are confident you can continue to afford it, then there is no reason not to go ahead with your purchase.

          What is fairly certain is that we can wave goodbye to the historically low interest rates that we have grown used to and brace ourselves for a return to the higher levels we last saw in 2012.

          There’s also been much speculation that we could be facing a housing market crash. But while prices could fall over the longer term, there is no evidence that they will collapse like they did during the global financial crisis of 2007/8. The market in Scotland is still functioning well despite the uncertainty.  I am seeing a small number of buyers pulling out of deals as we wait for this immediate uncertainty to pass, but I don’t see this continuing and especially so at the top end of the market.

          From a Scottish perspective, it will be interesting to see if the Cabinet Secretary for Finance, Kate Forbes MSP, replicates Kwasi Kwarteng’s Stamp Duty cuts for the Land & Buildings Transaction Tax (LBTT) bands in Scotland.

          On September 23, the UK Government announced a permanent cut to stamp duty in a bid to boost economic growth. The announcement means that in England no stamp duty will be paid on the first £250,000 of any property, up from £125,000 previously.

          For first-time buyers in England the threshold is now £425,000, up from £300,000. The maximum value of a property on which first-time buyers’ relief can be claimed will also rise from £500,000 to £625,000.

          While first-time buyers in Scotland do not pay LBTT on property purchases up to £175,000, a 2% LBTT rate is paid on property valued between £145,001 and £250,000.

          It would be a big worry for the property sector should the Scottish Government not bring us more into line with the rest of the UK.  A reduction in LBTT would go a long way to giving the Scottish housing market a boost, particularly for the lower bands, as we navigate this period of economic uncertainty.

          For advice on your house move, or for a free market appraisal contact Carl Warden, Head of Estate Agency on 01738 621121 or email carl.warden@bellingram.co.uk

          Our people

          Carl Warden

          Carl Warden

          Partner
          Estate Agency
          Tel: 01738 621 121

          About: Carl heads up the Residential Estate Agency division for the company and has a proven track record within the Scottish property sector. He has been marketing property in the Perth and Kinross area for over 35 years and has vast and detailed practical experience and knowledge of selling prime residential property: from period homes to contemporary developments. Carl is well known in the local area, having developed excellent relationships with buyers and sellers. His wider role involves looking after and supporting our Agency teams and colleagues in Oban, Beauly, Ayr and Forfar. Interests: Estate Agency, Market Valuation, Negotiation.

          Get in touch

          We'd love to hear from you, use the form below to email me direct

            Article posted on 03/10/2022

            Guest Blog: Managing trees and vegetation whilst being mindful of sustainability

            By James Morrison, Senior Asset Engineer at Network Rail Scotland

            It is a significant and ongoing challenge to manage the many risks that trees and vegetation can pose on our long, but generally narrow, infrastructure corridors. We cover the varied geography of Scotland which requires our teams, supported by specialist contractors, to be based strategically. Local knowledge of the infrastructure and asset condition, plus the ability to respond quickly to any issues is fundamental.

            We make management decisions using data and imagery collected during multiple inspections undertaken by trains, people on foot, drones and manned aircraft. This is combined with additional information from our passenger and freight customers, neighbours and multiple key stakeholders. We then generate risk based workstreams so we can best deploy people and equipment to deliver this work efficiently and cost effectively on behalf of the taxpayers who fund the railway.

            We also have to balance our operational responsibilities with those of being a large landowner, as the railway contains significant flora and fauna and in turn natural capital. We employ professional (in house) ecologists to advise our teams on how to protect this biodiversity based on site observations, historic records or legal designations. Not all trees and vegetation are a risk to trains so we can, where safe to do so, retain, pollard or prune trees. Every site has specific requirements, and it takes the work of many professionals from across Scotland to manage the lineside areas that flank the tracks.

            First and foremost, Scotland’s Railway fulfils a variety of travel needs from business and leisure to daily commuter services, including cross border services. 

            However, we equally have a responsibility to appropriately offset our tree and vegetation works that support this primary function. Our approach is governed by railway standards that reflect targets from our regulators and funders. But more importantly, it is the right thing to do.

            Replanting is only one aspect of improving biodiversity on the railway. Mitigating the impact of our work takes many forms such as the habitat piles of cut woody material or standing and lying sections of dead wood. Raptor perching poles, crevice creation and veteran feature mimicry (via cutting incisions in trees) and provision of bird and bat boxes are some other methods deployed. Where appropriate and access to maintain is available, we plant native grass and wildflower areas, high wildlife value hedgerows and even small ponds can be considered. 

            Mitigation can take place on railway land (where space allows) or alternatively in locations adjacent to, or even remote from the railway (offsetting). We are currently working to establish suitable partnerships with other landowners where offsetting would be appropriate. Locations on such land and where public access is possible have an added advantage to the people of Scotland as they can potentially visit these locations and enjoy them.

            As a large landowner, we feel we can have a tangible and positive impact on biodiversity and sustainability and the changes we are making are also being acknowledged and welcomed at a local level by communities.

            Article posted on 29/09/2022

            The Property Expert: Portsonachan lodges hit the market

            Scotland’s tourism industry is thriving and no more so than the country’s stunning west coast. One particular sleepy village near the banks of Loch Awe is pulling in visitors from across the globe for its picturesque location, and outdoor credentials including ample walking and cycling trails and water sports. Located just a short drive from Dalmally in the county of Argyll and Bute, Portsonachan is home to the impressive Portsonachan hotel and its nearby chalets where our Oban Estate Agents are marketing nine beautifully presented lodges.

            These 1–4-bedroom lodges present an opportunity to purchase a holiday home for leisurely excursions with family and friends, or to run as a successful holiday let business. Here is a flavour of the properties on the market.

            Stirling Lodge

            Stirling Lodge at Portsonachan offers buyers an opportunity to acquire a beautifully presented three-bedroom wooden chalet, complete with built in sauna and external hot tub. With its modern open plan kitchen, stylish bathroom and spacious bedrooms, the lodge is perfect for entertaining family and friends. Stunning views across one of Scotland’s most picturesque locations will be sure to impress.

            Offers over £325,000.

            See more: Stirling Lodge, Portsonachan, Dalmally, PA33 1BJ | Bell Ingram

            Carrick Lodge

            This three-bedroom lodge has many of the outstanding features as Stirling Lodge, including built-in sauna and hot tub. Set just a little further back from the loch, Carrick Lodge enjoys a pleasant tree-lined vista, enjoyed from its expansive balcony, the perfect place to sit and take in the glorious surroundings.

            Offers over £300,000.

            See more: Carrick Lodge, Portsonachan, Dalmally, PA33 1BJ | Bell Ingram

            Eilean Lodge

            This two-storey semi-detached wooden chalet offers two ground floor bedrooms complimented by a spacious upstairs living area, with a balcony that enjoys far reaching views across to Loch Awe. The downstairs decking area is home to a welcoming hot tub.  

            Offers over £215,000

            See more: Eilean Donan Lodge, Portsonachan, Dalmally, PA33 1BJ | Bell Ingram

            Duart Lodge

            The smallest, yet one of the most popular lodges available, this semi-detached one-bedroom lodge is the perfect couples’ retreat. Offering a blend of rustic and modern living, the kitchen is traditional farmhouse style, while the open plan living space provides ample space to sit and unwind. A large decking looks out across the gardens towards Loch Awe.

            Offers over £195,000

            See more: Duart Lodge, Portsonachan, Dalmally, PA33 1BJ | Bell Ingram

            For more information on the lodges, or our Estate Agency service on the West Coast contact our Senior Associate Andrew Fuller on 01631 567 791, or email andrew.fuller@bellingram.co.uk

            Our people

            Andrew Fuller

            Andrew Fuller

            Senior Associate
            Estate Agency
            Tel: 01631 566 122

            About: Andrew heads up the Estate Agency team in our Oban office and is focused on ensuring his clients have a first-class experience when they list their property with Bell Ingram. A resident of the Isle of Mull, Andrew is very well known across the West Coast of Scotland and has developed an excellent reputation for marketing prime residential property, including plots, crofts, island homes and lifestyle opportunities. Andrew joined Bell Ingram following almost 15 years managing several high-level private and commercial development projects in the United Arab Emirates. Interests: Residential Estate Agency, Rural Property Sales.

            Get in touch

            We'd love to hear from you, use the form below to email me direct

              Article posted on 27/09/2022

              What’s next for Scottish Agriculture? ScotGov’s vision for Scottish agriculture is light on practical detail

              By Head of Rural Land Management, Malcolm Taylor

              The decision to bring forward BPS payments a month earlier from October to September 2022 has received a positive reception from Scottish farmers facing the triple whammy of rising fuel, fertiliser and feed costs.

              However, farming businesses are still awaiting further clarity on what future support payments will look like following the Scottish Government’s publication of its vision for Scotland to become a ‘global leader’ in sustainable and regenerative agriculture.

              The statement, which was published in March, promises a ‘robust and coherent framework’ to underpin Scotland’s future agriculture support regime from 2025 onwards. This will, it says, deliver high quality food production, climate mitigation and adaptation, and nature restoration.

              The statement also outlines a “twin-track” National Test Programme designed to enhance knowledge exchange and improve environmental measurement tools.

              Malcolm Taylor, Head of Land Management at Bell Ingram, has broadly welcomed the programme. He said: “Any strategy that promises to develop sustainable and regenerative farming alongside greater environmental protection has to be seen in a positive light. However, the statement is light on practical detail and reads more like a wish-list at this stage.

              “Track two of the National Test Programme, for example, needs the fine print fleshed out so that farming businesses can ensure their environmental performance stacks up ahead of any future public support package coming into force.”

              “If we are to plan and invest in the long-term future of our businesses, farmers and land managers need further clarity, especially around what future BPS payments might look like.”

              Track One

              Track One encourages farms to improve their knowledge of current environmental performance and efficiency. Support will incentivise businesses to engage with and adopt measures that will create a baseline of information and understanding in sustainable agriculture. This is an opportunity open to all farmers, crofters and land managers, to enable their businesses to gain an understanding of their own baseline at an individual farm level.

              Track Two

              Track Two is short on details, but ScotGov says its purpose is to design, test, improve and standardise the tools, support and process necessary to reward farmers, crofters and land managers for the climate and biodiversity outcomes they deliver.

              This will create a robust understanding of how new conditions or activities could be applied to future support and ensure delivery of environmental outcomes in a way that supports sustainable businesses.

              Track 2 will include detailed testing of more involved tools and advice that will establish a robust method through which farmers can record the benefits to climate and nature they deliver through their businesses. Once tested these can then be rolled out to all farmers and crofters.

              Programme rollout

              The Programme began earlier this year with a phased approach to rolling out measures for current recipients of farm support payments, with the aim that these measures will become a mandatory requirement for accessing support.

              By 2025, the plan is for at least half of all payments within current schemes to become conditional on farmers meeting the new government measures. This is being referred to as farmers needing to meet ‘enhanced conditionality’.

              The statement promises: “We are also committed to ensuring that information and data will flow smoothly and securely through a future payments system which allows for benchmarking, national baselining, assessment and analysis of success and further learning opportunities and individual business decision making.”

              If you would like to talk about any aspect of how changes in agricultural policy might affect your farming business, contact Malcolm Taylor, Bell Ingram’s Head of Land Management, on 01307 462516 or email malcolm.taylor@bellingram.co.uk

              Our people

              Malcolm Taylor

              Malcolm Taylor

              Senior Partner, FRICS ACIArb
              Rural Land Management, Valuations
              Tel: 01307 462 516

              About: Malcolm is Bell Ingram's Senior Partner and heads up the company's Forfar office, where he specialises in farm and estate management, including the provision of agricultural rental advice and acting as an expert witness. He is the immediate past chairman of the RICS in Scotland and remains actively involved with the Institution. Malcolm is also head of Lettings within Bell Ingram. Interests: AMC Agent, Corporate Estate Management, Rural Land Management, SRDP Applications, FRICS Registered Valuer.

              Get in touch

              We'd love to hear from you, use the form below to email me direct

                Article posted on 14/09/2022

                Increased rates for Basic Payment Scheme and Greening 2022

                Following a budget review, farmers and crofters in Scotland are set to receive an increased rate on Basic Payment Scheme (BPS) and Greening payments for 2022.

                Details of the revised rates will be published to the RP&S website. Below is a table of the revised rates for information.

                Payments relating to BPS, Young Farmers Payment and Greening are due to commence at the end of September.

                The revised rates for 2022 are:

                Table 1 – Payment rates for BPS and Greening 2022:

                Region

                BPS

                Greening

                Combined

                1

                £147.26

                £75.82

                £223.08

                2

                £32.39

                £12.82

                £45.21

                3

                £9.43

                £4.30

                £13.73

                Table 2 – Combined payment rates for BPS and Greening 2022 compared to the 2021 rates:

                Region

                2021 Rate

                2022 Rate

                Difference

                1

                £222.14

                £223.08

                £0.94

                2

                £45.09

                £45.21

                £0.12

                3

                £13.68

                £13.73

                £0.05

                 

                Article posted on 01/09/2022