Galbraith Property Matters Summer 2021 by Galbraith

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n The changing face of the modern estate buyer n Country Houses – a Great British tradition n Attraction of the North East of Scotland n Huge demand for rural property n Interview with Edinburgh Rugby’s Jamie Ritchie

Summer 2021

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Welcome to Property Matters The land market is proving exceptionally active this year, as the list of potential uses for land grows ever longer.

n Scotland and the north of England, the interest in natural capital, carbon sequestration and land for planting amenity woodland or commercial forestry has boosted a market that was already buoyant. These new environmental interests do not conﬂict with the traditional interest in country estates for their amenity value and for country sports, but simply add to the demand. Buyers include individuals, both from within the UK and from overseas, and funds, with a signiﬁcant quantity of capital now chasing available land. In terms of residential property, Scotland and the north of England continue to attract buyers for the time-honoured reason that these areas offer good value for money compared with many parts of the south. Rural parts of Scotland and northern England offer wonderful scenery, wide open spaces and are relatively sparsely populated, providing the low-stress existence that many people crave as an antidote to city living.

Quick ﬁre questions with Jamie Ritchie

Circular home EC. Practical investment for a domestic dream

Fixﬂo for Lettings

Demand for rural properties

The shift towards working from home looks likely to continue, widening the pool of potential buyers of property in more remote locations. Family homes in rural areas are highly prized, especially if they have two or three acres of land. Traditional cottages in scenic locations are also selling exceptionally well this year. Properties with a view can command a huge premium in this market.

10 Country Houses A great British tradition 13 Flex appeal 14 Scottish Estates 16 Highland residential sales review 2020/21

As a ﬁrm Galbraith has adapted well to the restrictions imposed intermittently over the past 12 months and technology has enabled us to overcome any perceived challenges from social distancing. Indeed, buyers and sellers have embraced technology to the extent that virtual viewings are now the norm. We wish all our clients an enjoyable summer and we thank you for your continued trust in us. n

18 The Fife property market 20 Virtual Viewings 21 Getting the most out of a viewing 22 Moving from England to Scotland 23 Attraction of the North East of Scotland

Simon Brown Head of rural & residential sales & lettings simon.brown@galbraithgroup.com

Galbraith is a leading independent property consultancy. Drawing on a century of experience in land and property management the ﬁrm is progressive and dynamic employing over 200 people in offices throughout Scotland and the North of England. We provide a full range of property consulting services across the commercial, residential, rural and energy sectors. Galbraith provides a personal service, listening to clients and delivering advice to suit their particular opportunities and circumstances.

Contents

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Join us on Linkedin: linkedin.com/company/galbraith

24 The Connection Revolution 25 Moving office during Lockdown 26 The enduring appeal of a perfect place to live 28 The importance of a property inventory 30 Home reports. Do’s & Dont’s

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The Scottish Highlands, Moray & Speyside...

Worth boasting about

The Highlands and north of Scotland have long attracted those seeking a change of lifestyle and looking to take advantage of its stunning scenery, but while the natural landscape remains the same the economic landscape is one of positive forecasts.

he last year or so has emphasized this more than ever with buyers from across the UK keener than ever to relocated to the Highlands, Moray and Speyside. Driven by a rise in tourism, an improving infrastructure and continued investment, while other areas may have stagnated, the Highland economy is thriving, built on a sustainable foundation within sectors which are ripe for development. The increasingly relevant renewables industry is active throughout the region; the University of the Highlands and Islands is establishing itself as a digital and medical research centre and the reputation of tourism and locally produced food across the region is world class. To serve this growth, the dualling of the A9 is underway, proposals are afoot to dual the A96 eastwards to Aberdeen whilst Inverness Airport has increased its ﬂights to both the south and various international destinations. The Highland way of life though remains intact, with a strong sense of community and the spectacular and varied landscape available to all. To be able to wake up in the morning and look out over water where the occasional ferry or sailing boat passes by; to look up at the night sky and only see the stars with no light pollution; to go home in the evening

with the looming presence of Ben Wyvis or Ben Rinnes, so familiar but always changing or to see the snow-covered mountains in the west or Cairngorms and know you can be climbing up, biking or skiing down them at the weekend are just some of the numerous reasons buyers are wanting move to the region. The standard of living on offer in the Highlands and Moray is perhaps its greatest asset. However, there are also the more intangible beneﬁts of living in such an historic rural area; principally to live quietly in your community, knowing that if things go wrong, your neighbours will be there to help you out. All of these factors perhaps epitomize a modern Highland way of life and which are enhanced with access to groundbreaking innovation, industry and opportunity, world class arts and culture and yet you are never really more than 2 hours from the centre of London. Examples of houses which have really captured the current Zeitgeist for rural living include Brooks Cottage, near

Rod Christie 07766 250 797 rod.christie@galbraithgroup.com

Craigellachie (guide price £350,000). At the heart of Speyside and situated in a quiet yet accessible position, the house enjoyed magnificent views over Speyside and over towards Ben Rinnes; selling in less than a week. Similarly, Barefolds, by Huntly (guide price £475,000) sold quickly and well over the asking price to an English buyer. It included a charming 4 bedroom farmhouse, a paddock and a superb converted steading allowing it to be used either as additional accommodation, a home office or for short-term lets. Allowing for the fluctuations caused wider economic and global factors, the previous five year period in the Highlands and Moray property market has seen steady and sustainable growth with interest from right across the United Kingdom as well as globally. Forecasts continue in this vein and as prices, relative to more densely populated areas such central Scotland remain attractive, we are looking forward with confidence to the next five years. n

Phiddy Robertson 07899 877 733 phiddy.robertson@galbraithgroup.com 3

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Quick Fire Questions with Jamie Ritchie

To celebrate Galbraith signing on as Official Property Consultancy Partners to Edinburgh Rugby for another two years, the ﬁrm caught up with fan-favourite ﬂanker Jamie Ritchie to chat all things rugby, life in the city and changing room antics.

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ince his explosion onto the professional scene in 2014 as a 17-year old fresh out of school, Ritchie has become a household name for Scottish Rugby fans. At the tender age of 24, he has already racked up 27 caps for his country and has his sights set on a centurion of appearances for Edinburgh. 1.

What age did you start playing? I started playing when I was eight.

2. Did you have any idols or anyone who you looked up to? I remember my first ones being Chris Paterson, Jonah Lomu and Jason White. 3. Was there any player in particular who influenced your style of play? When I started to think about it - Kiran Read - just because he was so skilful and great at the fundamental parts of the game. 4. You’ve played against some of the best in the world – who’s been your toughest opponent and why? Justin Tipuric - I just remember him being everywhere and anytime we were near each other he would make sure I was off the floor after him. 5. How does your back stay in one piece when turning over a ball? I don’t know haha! Luckily I am quite flexible from doing judo when I was younger. 6. What’s been your career highs and lows so far? High - Making the 2019 World Cup and beating France at home in the last game with crowds before the pandemic. Low – It’s a difficult one. I have enjoyed most of my career and tried to learn from all the setbacks. Probably losing to Japan because it was such a massive game. 7.

probably say Dishoom for breakfast and the Wrestlers Naan. 11. Favourite milkshake? Strawberry from Blackhorn Grill in St. Andrews. 12. Is there anywhere else in the world you’d like to live? Potentially, maybe somewhere sunny or with snow, but can’t see myself anywhere else at the moment. 13. Where do you see yourself in five years’ time? In five years’ time I want to see myself as happy and successful. I want to be in a place where I have impacted positively on and off the field with the high performing teams I am part of. I feel whilst in elite sport it is very important to enjoy the journey and have fun. The team and I get more out of myself in all aspects if I am happy, learning and contributing to a positive environment. 14. What advice would you give to youngsters keen to make their way in the sport? Concentrate on your skills and becoming the best ‘rugby’ player you can be. Don’t worry too much about being the strongest in the gym. Learn the game! n

“

I feel whilst in elite sport it is very important to enjoy the journey and have fun.

Favourite thing about playing at Edinburgh? The boys! We are so lucky that we have such a great squad here.

8. Who takes longest in the shower and to get ready? Duhan Van Der Merwe! 9. Favourite thing about living in Edinburgh? The city, it’s such a great place to live and we have made so many great friends. 10. Favourite spot for food? What’s your go-to order? There’s a couple in Edinburgh. I’d

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Circular Home Ec Practical Investment for a domestic dream Old house / Kept in use 3

Double glazing / Low carbon 3

Mature trees / Wildlife 3

Permeable surfaces / Reduce ﬂooding 3

Flowers / Pollinators 3

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Buying a home is investing in a dream. The summer evenings we’ll spend in the garden. The winter nights with friends to dinner, perhaps with produce from our garden or smallholding. The space our children will enjoy and one day inherit.

et the purchase is just the start of investment in our home. It is a piece of Earth – not just a ﬁnancial asset. It is ‘Natural Capital’, and the more we invest in it, the more we receive back.

Can you design out waste in the house’s heating, by installing insulation and renewable energy? It makes a big difference to climate change, and your pocket will thank you every month for lowered energy bills.

There are three principles to reinvesting in the Natural Capital of the earth. These are: keeping materials in use, designing out waste, and regenerating natural systems. At national level this is called the ‘Circular Economy’, but it is just as true at domestic level: ‘Circular Home Ec’.

Can you regenerate natural systems in your garden? With so much land intensively used, gardens are vital to pollinators, birds, hedgehogs and other wildlife. Choosing a range of plants that ﬂower from early spring to late autumn and provide fruit, berries or seeds in winter will both make a fantastic year-round show and ensure bees, butterﬂies and birds never go hungry. A few nest boxes and log piles will recreate the niches and deadwood that birds, bats and beetles would use in an ancient forest, ensuring you have plenty of natural predators to control aphids and biting insects. Creating a pond – even the size of a washing-up bowl – will provide water for thirsty birds, and almost certainly be colonised by frogs. Finding alternatives to products which damage natural systems – especially peat compost and chemical pesticides – will ensure your local investment doesn’t come at a global cost. If you have a large garden or smallholding, you could experiment with regenerative agriculture or even a forest garden.

If you’re buying an old house, you’re keeping materials in use, so award yourself a big circular tick straight away. If you’re buying a new one, where did the materials come from, and what was the land before? For everything you buy – food, clothes, technology, furniture, and their packaging – ask, was this onetime extracted from a mine or quarry, or did it grow on a forest or farm? Is that farm or forest regenerative – enhancing the land – or depleting carbon and destroying natural habitat? Where are all these materials going? Can they be recycled into the same products, or do they degrade to waste? Is each item on a circular journey, or a linear one? Can you make your Home Ec more circular, shop by shop? This is Natural Capital investment, and not just for the planet. Studies show that replacing plastic or glass in our homes with wood, avoiding artiﬁcial ﬁbres in clothing, and eating an environmentally-friendly diet, is also great for our physical and mental health.

“

A few nest boxes and log piles will re-create the niches and deadwood that birds, bats and beetles would use in an ancient forest...

Considering Natural Capital across the range of activities that Galbraith undertakes, I wrote, ‘marketing is all important, but greenwash is a real danger’. This is as true for Circular Home Ec as for big corporate woodland carbon deals. Everyone is scrambling to market their product as eco-friendly. Keep asking the questions: will these materials stay in use? It is going to end up as waste? Where did it come from, and was it a regenerative natural system? If it’s not clear, is there something to hide? Living on the best spot on planet Earth requires you to be sharp and practical – but also to never let go of the dream. n

Dr Eleanor Harris 07585 900 870 eleanor.harris@galbraithgroup.com 7

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Repairs & maintenance made smarter...

Fixflo for Lettings Repairs and maintenance issues can be a source of tension between landlords and tenants. It is not always clear who bears responsibility when it comes to fixing issues, the tenant expects one thing while the landlord suggests otherwise, with misunderstandings arising regarding who is liable for what. Dealing with repair issues can be one of the most time consuming and complicated activities in a Letting Agents day. This is why Galbraith has introduced Fixflo.

ixﬂo is an online repair management system which enables tenants to accurately report repairs, and for agents to manage the process of requesting quotes and instructing works to contractors. The system also allows agents to request approval for works to be carried out and is a communication tool between all parties involved to keep everything related to any issues in one place. Ultimately Fixﬂo allows repairs to be carried out more quickly and efficiently.

Why it's great: • 24/7 online repair reporting so easy that nothing gets missed • Tenants can upload photos of the problem - allowing accurate assessment of the work required • Full documentation and a complete audit trail - every step is tracked, nothing gets forgotten • Landlords can log in and receive notiﬁcation alerts and see the job status and progress of the issue.

Fixflo’s reactive repair reporting system allows the agent to win time back every day and ensures a fast, correct fix every time. This keeps both the tenant and the landlord happy. Tenants can report repairs via an online portal, in 40+ languages, anytime, anywhere and the agent gets complete, concise and accurate repair reports, in English, in seconds straight to their inbox with supporting media files (video, photos). The portal also requires occupiers to provide all the essential information you would need to obtain accurate quotes and carry out effective first-time repairs including

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| Property Matters | Summer 2021 media files for better diagnoses. Fixflo has in-built guidance and education. Tenants may not be aware of their responsibilities with regards to issues such as mildew and blown lightbulbs. They are encouraged and helped to fix simple issues themselves like cleaning the filter on a washing machine, topping up the pressure on a boiler or changing the batteries in a smoke alarm, and are alerted to problems that are their responsibility to resolve. This helps to reduce the number of issues reported to the agent. 18% of repairs reported using Fixflo are selfresolved by the tenant. The online form guides the tenant, step by step, with prompts for adding information such as make and model numbers. With more relevant information gathered the contractor is able to bring the correct parts and tools to the job. This in turn gets the job finished faster, with less need for a return visit. There are also prompts to ascertain if there are pets in the property, if a tenant is a vulnerable person in any way and, important at this time, ask the appropriate Covid-19 questions. Once a repair is underway, Fixflo allows contractors to provide updates (appointment, completion, invoicing) remotely, tenants receive updates on their issue as it progresses and properties are protected by automating out-of-hours maintenance Property maintenance is highly complex. Not only do you have to gather detailed information about each repair and get approval from landlords every step of the way, but you also have to ensure that you stay compliant with layers of regulations and ever-changing legislation. Fixflo’s dashboard is designed to track the progress of all ongoing works in the maintenance cycle and alert users of outstanding tasks. In a world where consumers have an evergrowing expectation for great customer service, Tenants and Landlords are no exception. Fixflo has fundamentally changed how repair and maintenance issues are managed in the properties we look after. Reporting repairs online 24/7 is now an industry standard. Our Tenants can report repairs in their property anytime, anywhere online, our Property managers can instruct contractors, manage works orders, get approvals from landlords and effortlessly prioritise urgent issues and overdue tasks from one central hub and our Landlords can see the job status and progress of the issue. Whatever the problem, Fixflo allows us to respond as soon as possible to ensure the properties we manage are always fit for human habitation and free of hazards. n

Samantha Outten 01292 292 302 samantha.outten@galbraithgroup.com

Demand for rural properties Demand for rural properties is at an all-time high due to the Covid-19 pandemic, its inﬂuence on global economics and government policy.

enters are no longer committed to the high cost of living in major cities to support career development, driven mainly by the fact that many are now able to work remotely. Another important factor is the social aspect of living in the proximity of city centres; during Lockdown bars, clubs and restaurants being closed the city centres have lost their buzz compelling city dwellers to reassess their current surroundings and values to relocate. Renters increasingly now yearn for larger countryside properties with one or more home studies, fast broadband speeds and more outside space, basically providing more space to live and work. Property portal Righmove’s Rental Price Tracker found that in Edinburgh, the number of renters enquiring about leaving the city has risen from 29% to 37% compared to the same period in 2019. In London 53% of renters enquired about properties outside the city, up from 45% in the same timeframe. With demand for country properties outstripping supply

rental prices have increased in rural areas. Consequently, demand has fallen dramatically in cities across the UK causing an over-supply and leading to lower rents. Further Rightmove research found in Quarter 4 of 2020, the average price of a let property increased by 3.1% overall in Scotland from Q4 of 2019, whereas in Greater London it was down 6.4% in the same period. The outlook for the rental market in cities will depend on the COVID-19 vaccination roll out and how quickly it can stimulate city centres as business activity increases with the re-opening of non-essential shops, bars and restaurants. In all likelihood it will even out when life goes back to some kind of normal, but city properties with outside space will be most in demand. This fundamental shift in what renters are looking for may be short lived. However, with more freedom to work remotely some people will undoubtedly look to live in a rural setting.

Marsaili Macleod 07557 266 832 marsaili.macleod@galbraithgroup.com 9

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Country Houses A Great British Tradition

The country house, whether a Georgian gem, Victorian Gothic wonder, delightful Edwardian house or a more modern and minimalistic property, the appeal of this very British property entity, sitting within its own private grounds and looking out over undisturbed and peaceful surroundings, has never been stronger. n Rannoch Lodge 10

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s a ﬁrm, we have specialised in the sale of country houses for the length of our pedigree, which stretches back over a hundred years and looking back through the archives the great delight in marketing them is as evident today as it was in the past. Of course, details and points of note within today’s brochure have changed considerably compared to those required in 1921 but many of the core elements on today’s wish list were just as desirable as they are today. These include a quiet peaceful countryside setting, the ability to enjoy the gardens and grounds and to have a house of scale, with space not just for the family but for friends to come and stay. The renewed interest in the outdoors, gardening, trees and nature in general can all be enjoyed from the usually extensive grounds, indeed some still have their walled gardens which can form part of the new owners weekend projects of bringing them back to life! The house itself is of course key. Very often the period features, both inside and

n Holme Rose

“

Over the last 24 months, Galbraith has seen a lengthy ﬂurry and considerable demand for the typical country house from both national and international buyers...

n The Edge 11

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Galbraith “The demand for a country house has never been higher and the limited supply means that competition has never been greater.”

n Woodburn Hill

Rod Christie, from our Highlands region, says “Holme Rose comprised a magnificent residential estate with a substantial Georgian country house, various cottages, lands extending to over 350 acres including delightful amenity woodland and private fishings on the River Nairn. Holme Rose house and grounds sat at the heart of the Estate and was undoubtedly the central draw. It offered the grandeur and style befitting an important house of this nature with the benefits for being only 10 minutes from Inverness Airport. Significant interest was achieved once viewings were permitted in June 2020 resulting in an excellent offer being accepted. ”

n Balcary Tower

out, such as fine cornicing, period fireplaces, panelled doors, astragal windows, crow steps and maybe even a portico or turret, are often greatly hoped for, together with rooms of scale and proportion. However, the purpose and use of particular rooms may change as how we live today is not as we did decades ago. However, the great benefit of the country house is it offers size and therefore flexibility. Over the last 24 months, Galbraith has seen a lengthy flurry and considerable demand for the typical country house from both national and international buyers, across its network of offices from Hexham to Elgin and Inverness in the Highlands and all the other offices in between.

n Wester Kinnear Farmhouse 12

Rannoch Lodge, Perthshire is another example which attracted strong buyer demand. A period house, set within about 30 acres of immediate gardens and grounds, on the highly scenic banks of Loch Rannoch and dating back to the 18th Century. Indeed it has a wonderful history of including some notable guests including a young Winston Churchill, Andrew Carnegie and Elizabeth Taylor, who is believed to have dropped in by helicopter. The unusual Balcary Tower, in Dumfries and Galloway, marketed by David Corrie from our Castle Douglas office went under offer within eight weeks, whilst The Edge, which also found a buyer quickly, might appeal to those with a more contemporary style. David ﬁnds the current market, whether for a period or modern country house, reﬂects a pattern found across all the offices of

Woodburn Hill, Northumberland, recently under offer, generated strong interest with several buyers intent on purchasing it. An idyllically positioned country house, with enviable views over the countryside, Woodburn Hill offered the buyer a period house and great amenity set in over 100 acres of grounds including river frontage, woodland and outbuildings. Sam Gibson our estate agent in the north of England said “Over the last twelve months we have seen buyers having a greater desire for privacy and seclusion and so a country house such as Woodburn Hill ﬁtted this criteria perfectly. Interest was not only local but also from the south east, East Anglia, Yorkshire and London.” The quintessential Fife farmhouse of Wester Kinnear Farmhouse, attracted a huge amount of interest. Dominic Wedderburn, from our Cupar office says “It’s highly accessible location, only a few minutes from the Tay Bridge and all the amenities and opportunities offered by the resurgent city of Dundee being within easy reach, together with the privacy and space Wester Kinnear Farmhouse offered with a paddock and steading range, meant it ticked a lot of the boxes for the buyer looking to upsize and live the rural dream.” There are, of course, country houses which are only ever marketed privately as the desire for a discreet sale can sometimes be preferred by an owner. With a very up to date mailing list of buyers keen to secure their perfect country house, Galbraith is in a strong position to meet this request from clients. If you are considering a sale please do contact Galbraith and we can discuss your requirements conﬁdentially. n

Emma Chalmers 07899 877 732 emma.chalmers@galbraithgroup.com

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Flex Appeal An annexe to a home will serve a variety of purposes and can make a really signiﬁcant difference to a family’s quality of life. It also adds to the resale value of the property.

n annexe to a home will serve a variety of purposes and can make a really significant difference to a family’s quality of life. It also adds to the resale value of the property. It does not need to be particularly spacious and, of course, small does not necessarily mean inexpensive, but the cost per square foot will decrease the more space one creates. Most families do not require a separate external entrance, but if you are creating an annexe from scratch it is worthy of consideration, to provide complete independence. For multi-generational living under one roof, the ideal configuration for grandparents is a bedroom, bathroom and sitting room. Wherever possible these should be on the ground floor and all on one level. Consideration should be given to the sitting room and whether it has pleasant outlooks over the garden and a good degree of privacy. It’s rare that elderly relatives will require their own kitchen, and

there is a risk that you may be subject to an additional council tax charge if you do install a second kitchen, as it could potentially be argued that you have created an additional dwelling. Over the past 12 months we have seen many family situations where it is the younger generation who are living in the annexe – many young couples have left rented accommodation in the city and moved back in with one set of parents, while continuing to work from home, in order to save for a deposit on their first property. This has proved an invaluable asset and has enabled families to spend time together while also helping the younger generation on to the first rung of the property ladder. For families with teenage children a small annexe or even just an additional games room can be of great benefit to enable the parents to watch TV in the evening enabling offpsring to do their own thing re . This teenage ‘chill-out zone’ can be used as a home office during the day,

again a great asset when several people are all working from home. However, depending on your location your annexe may be used occasionally for family but primarily as a holiday let. In the Lake District or on the coast for example, the demand for holiday accommodation is typically very high and (at the time of writing) the potential requirement for holidays to be taken only within the UK this summer means that it makes sense to consider the letting potential above other factors. An annexe which is primarily designed as a holiday let may generate a very useful additional income during the summer months and can be used by visiting family. An annexe, I would suggest, is now high on rural property wish lists. n

Sam Gibson 07769 687 978 sam.gibson@galbraithgroup.com

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Scottish Estates... The changing face of the modern estate buyer. The expansive and wild lands of Scotland have for generations had great romantic appeal; the rugged mountain ranges, extensive coastlines, rolling countryside of the lowlands, picturesque rivers, complimented by a wealth of historical houses and buildings.

any corners of the Scottish countryside have been forged from the traditional Scottish estate, centred on the “big house” with the extensive grounds and policies designed and enhanced to provide the perfect setting for the wealth of outdoor activities enjoyed and offered by so many estates. These including the traditional sports of ﬁshing, shooting and stalking, not to mention many having strong farming and forestry interests, together with many estate houses providing homes to all that worked on the estate. The Scottish estate has always been of great interest, predominately driven by the potential buyer’s interest in the traditional sports the estate has to offer, together with the desire to “get away from it all”. The demand, without doubt, has generally outstripped supply, with only a handful of estates ever offered for sale each year, either privately or on the open market. However, with the accelerating and very tangible understanding of climate change, the growing desire by many to offset carbon usage and the now increased need by businesses and corporations to not only be visibly “green” but to try and meet their own net zero targets, the traditional estate, together with the hill and stock farms,

are now of increased interest from this new buyer, looking to use the land for a modern purpose. Some call it rewilding or habitat creation and expansion, or more simply woodland creation. The buzz word is Natural Capital and whilst the language may be new, the reality is that this is just about managing the land to meet the demands of the market, with the market moving towards society rather than individuals. Some buyers look to plant well designed productive forests, others native woodlands or indeed a diverse mixture of both, with the newer peatland restoration also now coming into the mix. We should perhaps also be asking “what will be the next ecosystem service to be drawn upon”? The interesting change being witnessed is there is now a range of buyers with a range of interests being sought from a Scottish estate coming forward and that no longer is it just those interested in the more traditional sports of grouse shooting, stalking, ﬁshing and low ground shooting. Thus on purchase an estate may cease as a traditional sporting estate and be much orientated around natural capital/ re-wilding/ tourism or a mix of all. Consequently valuing and how we market estates is also now changing. As a ﬁrm, who have specialised in the sale, purchase,

valuation and management of estates for many decades and we consider this changing and evolving market in the Scottish estate is at a pivotal point. For some us this is the point where we look forward to how we will value an estate in the future and back at how we used to value them! We have embraced this change, without loss of sight on the past, we are ensuring we learn the new language and we are investing in people with the necessary skills and expertise to ensure our clients get the very best and up to date advice. We are delighted that Dr Eleanor Harris has joined us to strengthen the team as our Natural Capital and Carbon Leader. Eleanor will work across the business and provide a focus to ensure we maximise the opportunities ahead. The rise in values of estates with potential to embrace delivery of ecosystem services has been fascinating to observe, as indeed has the changing face of the buyer. Hill ground, which until very recently, may have had a capital value of something in the region of £600 to £800 per acre, can now see prices nearly double these ﬁgures and in some cases sometimes more. In most cases a number of bidders have come forward at a closing date and this has successfully helped drive sale prices up to their maximum achievable level.

The buzz word is Natural Capital and whilst the language may be new, the reality is that this is just about managing the land to meet the demands of the market... 14

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During the recent sales of Glenlochay Estate in Stirlingshire and Auchavan Estate in Angus, the changing face of the buyer started to become more apparent with a small number of Natural Capital buyers coming forward. However, the recent sale of the Kinrara Estate in Invernessshire saw much more evidence of this with an increased number of buyers looking to invest in woodland creation potential and associated Natural Capital outputs. This new modern buyer can be wide ranging from corporations, institutions, investment houses, business owners to private individuals with their own personal environmental motivations and interests. Most recently we presented an extensive stock hill farm to the market on a strictly private basis and without exception, all the interest was in the potential to manage the Natural Capital. Private, off market sales are increasing in number, principally driven by some owners keen to retain their privacy and achievable due to a strong mailing list of active buyers. Thus it is advisable to register and share your “wish list” with us. New owners may of course wish to continue to enjoy the traditional sports, whilst at the same time perhaps introducing some native or even productive woodlands for a future income, potentially installing a hydro scheme, turbines or maybe generating further income from holiday letting units, farming or the more bespoke ideas of a distillery or wedding venue. Thus such an acquisition can be seen as a “win/win” investment as it can allow Environmental and Social Governance (ESG) requirements to be met whilst providing a ﬁnancial return from others parts of the estate. The clear observation is that those looking to buy an estate have increased in number, they come with a much wider variety of interests than previously seen but the supply remains tight and limited. So for those considering a sale of a either a traditional estate or stock farm, now perhaps couldn’t be a better time. For those looking to either sell or buy an estate, Galbraith are extremely well placed to assist with its network of offices throughout Scotland and the north of England and a team of professionals highly experienced, skilled and qualiﬁed to advise, not only on the sale or purchase but once secured with a range of further property services including forestry, management, renewables, building surveying and planning. n

Emma Chalmers 07899 877 732 emma.chalmers@galbraithgroup.com

Athole McKillop 07718 523 045 athole.mcKillop@galbraithgroup.com

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Property Review

Highland Residential Sales Review 2020/21 At the start of 2020 we were acutely aware of the potential impact of Brexit and this was evident in the number of market appraisals carried out from the Inverness office in January: two compared with twelve the previous year.

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he ﬁrst quarter of 2020 did turn out to be signiﬁcant for its lack of market activity, but of course what we didn’t know was that we were rolling towards the most impactful global event of this generation. Most of us were caught by surprise at the beginning of the pandemic and we have all learnt that those who make a forecast in these times are on dangerous ground, but we have employed adaptability and inventiveness which has enabled us to work and take advantage of opportunities as they arise and keep a cool head when required. Selling houses is something that most people seem to have an opinion on though, to support the oft-maligned estate agent, we did accurately predict to an extent what might happen when the market reopened, but we would never have been brazen enough to guess what would really play out. The restrictions on the housing market in Scotland were lifted on 29th June 2020 and the expected release of pent up demand came to be. Our offices in the Central Belt and the Scottish Borders experienced overwhelming interest from purchasers and instructions to sell from day one. The north of Scotland was more of a slow burn - we had

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This combination has seen us overwhelmed by interest and properties being sold for well in excess of the Home Report valuation...

very low stock and prospective sellers were cautious about their approach to opening themselves up to the outside world and as to how a potentially fragile economy might perform. This worked to the advantage of sellers as by the time their houses were brought to the market, purchasers were desperate to buy and had secured their purchasing position by completing their sales elsewhere. After four months of frenetic activity, midautumn brought with it a rise in COVID infections and the reintroduction of restrictions and ultimately another lockdown. So whilst the demand was still there and the market remained open, the desire to act was curtailed and once again activity slowed. The start of a new year brought with it approval of the ﬁrst vaccine and a huge sense of hope. Highland home owners have been hesitant to bring their houses to the market, but this could be partly due to the weather, partly due to caution and partly due

to a change of outlook – I know of one family where the parents who were about to move south to be closer to their children are now staying put and the children are moving north! The pandemic has brought with it extremes and for us this meant unprecedented demand and buyers paying significant premiums to secure their ideal property. Similar to the property boom of 2006 – 2008 but different in that it is a specific type of property that purchasers are fighting for: traditional (almost quaint) or contemporary; in a stunning setting, preferably overlooking water; and below £500,000. This combination has found us overwhelmed by interest and properties being sold for well in excess of the Home Report valuation, sometimes £100,000s over the asking price. Many factors have created this situation – pent up demand, a desire to move away from built-up areas and a realisation that many of us can work remotely. The Highlands is a wonderful place to live and we have been very fortunate to have recorded fewer Covid cases than most areas; we have a good infrastructure including digital communications; and provide a stunning holiday location for those for whom travelling abroad is a less attractive option. Interesting times and new opportunities lie ahead. n

Phiddy Robertson 07899 877 733 phiddy.robertson@galbraithgroup.com 17

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Property Review

The Fife property market Since the ﬁrst lockdown ended and the property market opened up in July 2020 the Fife property market has gone from strength to strength with demand signiﬁcantly greater than supply, which has inevitably seen an increase in house prices.

ver the past year we have seen more closing dates and preemptive offers received in excess of the asking prices and home report values in order for individuals to secure a sale and I have not seen this consistent pattern since prior to the Global Financial Crisis in 2007/2008. The East Neuk villages have long been regarded as highly sought after. Given their coastal position with the benefit of beaches and the Fife coastal path they attract many buyers from the Central Belt and overseas choosing to buy second homes . 1 Craighead Farmhouse, By Crail (offers over £280,000 – A lovely apartment forming part of a converted farmhouse with views out over Crail Golf Course and Blue Stone Beach) was launched on the market earlier this year and sold within a staggering three days with missives legally binding within a week, a new record in terms of my 21 years experience of selling property. 11 High Street West in Anstruther (offers over £725,000) an outstanding house situated in a spectacular coastal position in the village also sold after 5 weeks of marketing with significant interest. Up until recently The East Neuk of Fife has been disadvantaged by poor internet connectivity, but this is changing. Openreach has recently been building a new ultra-reliable, gigabit-capable full fibre broadband as part of its plan to reach rural and coastal towns and villages in Fife. Around 90 per cent of the households

and businesses across Lundin Links, Lower Largo, Anstruther, Cellardyke, Pittenweem and Kilrenny can now connect, with work still ongoing. The improvement of broadband infrastructure and the increase in demand to work from home is seeing an increase in the amount of buyers looking to move to the East Neuk permanently to set up their principle home. North East Fife is perfectly positioned for access to the universities of Dundee and St Andrews which attract students and academics from all over the world. The University of St. Andrews was founded in 1413 and is the oldest university in Scotland and has grown significantly since my days there as an undergraduate in the 1990s and now has 9,000 students. Demand for accommodation in St. Andrews is much greater than supply and many parents invest in homes there whilst their children are at university. NB These are not typical buy to let investors looking for a specific yield or growth but more families with means who want to complete the journey of their childrens’ education whilst hoping to gain from some growth once they have graduated. 7 Kinkell Terrace in St Andrews (offers over £399,000 – a lovely upgraded family home in a quiet residential area) sold earlier this year and we have just agreed a sale on 1 Nelson Street in St. Andrews (offers over £355,000) after a significant amount of interest. Being the “Home of Golf” St Andrews is very much regarded as the jewel in the

crown of North East Fife and with the culture and mix of cosmopolitan shops and services is a significant draw for many buyers. Last year Galbraith sold Woodlands in nearby Strathkiness, a wonderful Arts and Crafts house close to St Andrews (offers over £625,000), which sold after considerable interest at a closing date. Accessibility to the resurgent city of Dundee home to the V&A Museum and Tayside’s biggest urban area, which was recently ranked fifth in the country in a lifestyle study conducted by CIA Insurance is also a major factor in the North East Fife property market. Ninewells Hospital and the University of Dundee attract senior professionals from around the world and many of these individuals choose to buy in the sought after villages of Newport-onTay, Wormit and Balmerino as an alternative to Broughty Ferry or the sought after West End side of Dundee. We have just sold 38 Norwood in Newport-on-Tay (offers over £450,000 – an Impressive family property with exceptional river views). Fife has some of the best state and private schools in Scotland with Wade Academy in Anstruther benefiting from a recently constructed campus. St Andrews will also benefit from a new campus for Madras College which is scheduled to open in August 2021. St. Leonards in St Andrews is recognised as Scotland’s International Baccalaureate leader and is a wellregarded private school offering day and boarding facilities; many families choose to relocate to Fife to be accessible to the school. In addition

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The High School of Dundee, Dollar, Kilgraston, Strathallan and Glenalmond all have dedicated bus routes from parts of Fife. I am proud to be a former pupil of The High School of Dundee and am currently Vice President of the Dundee High School Old Boys Club. It is noticeable to me that many former pupils have returned to the area to allow their own children to beneﬁt from the same educational experience that they had; this “coming home to roost” movement is very tangible and new pupils who start who had parents or a relative at the school join the same house as their parents or relative enhancing their heritage.

SOLD Blebocraigs, By St. Andrews Offers Over £895,000

SOLD Blebocraigs, By St. Andrews Offers Over £645,000

SOLD Woodlands, Strathkinness Offers Over £625 ,000

One of the activities we have all been able to do through lockdown is outdoor exercise. Therefore the demand for easily accessible outdoor space in the local area has become more important than ever. In Fife the beaches around St Andrews have been ideal for locals to benefit from this excellent amenity. West Sands Beach at St. Andrews is one of the most iconic beaches in the world and highly prized for those who simply want to walk the dog or spend some time outside with family. Fife has excellent path networks including the Fife Coastal Path, which runs from Kincardine to Newburgh along the coastline of Fife. The Fife Pilgrim Way (which runs inland through Fife, from Culross and North Queensferry to St Andrews) is also an excellent route to join via Ceres during my lunchtime running sessions from the office. Demand for property in Falkland is considerable and this has been enhanced by the network of paths through Falkland Estate and accessibility to the Lomond Hills which gives Fifers the ability to benefit from “Highland style” walking throughout the year. We have recently sold Balmblae Cottage in Falkland, (offers over £295,000 - Delightful B listed village cottage backing onto Falkland Palace orchard) at a closing date with multiple offers received. Galbraith also sold Pitlethie Farmhouse which is situated just a short walk from Tentsmuir Forest, which has an excellent beach and a superb network of paths and trails ideal for walking and cycling. Some of the towns and villages in the south of Fife are also attracting a lot of interest, especially from Edinburgh buyers looking for more space and amenity whilst retaining accessibility to the Capital. In December of 2020 we sold 18 Seaside Place in Aberdour (offers over £575,000) an impressive “Grand Design” in the highly sought after village, which has a railway station with regular connections to Edinburgh as well as two beaches. In addition Gairlands in Kinghorn (offers over £575,000) a charming Victorian house finished to a high standard and situated in a spacious garden has just changed hands. Accessibility to Edinburgh and a train station were significant factors in the interest raised during this sale. Whilst Fife is attracting a lot of interest from buyers it is still perceived to be good value when compared to other regions commutable to Edinburgh such as East Lothian and with a lovely dry climate and accessible countryside I can only see this demand increasing in coming years. n

Dominic Wedderburn 07917 435 573 dominic.wedderburn@galbraithgroup.com 19

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Virtual Viewings

When Covid struck and we were all locked down, Scottish letting agents were quick to adapt and embrace the new approach to viewings to ensure the market continued, so essential moves could take place and virtual viewings became the safest way to view.

irtual viewings are where you take a tour of a property online, and there are various different kinds. At its most basic, a virtual viewing might be a simple smartphone video ﬁlmed by the agent, landlord or the current tenant and posted online. In some cases, virtual viewings vary and can be a live session with an agent, current tenant or landlord, where they walk round the property answering questions and taking the potential tenant wherever they want to go. When a property becomes vacant, we visit it 72 hours afterwards to complete the check out and at the same time take a short video which can then be sent to prospective applicants. We at Galbraith are noticing the advantages in the new way of receiving applications, and conducting viewings which now save both the applicant and agent time. Where pre Covid, we would carry out block viewings where possible, many of these ended up being a waste of time for both parties, as the property was not what the applicant was looking for or the applicant wasn’t suitable for that particular property. We have adapted to the reduced number of physical viewings by sending out viewing application forms to all enquirers, to gather as much information as possible about the applicant. On average we receive less than 50% back, with approximately 25% of these being 20

Getting the most out of a viewing Richard Stewart discusses some handy hints and tips on what to do when viewing a house for sale.

suitable prospective Tenants for that particular property. A video is then sent to those suitable and if they are still interested an in person or video viewing can then be arranged. Even in a post-COVID world, there are obvious benefits to cutting down on the number of people viewing properties, viewings are time-consuming for landlords, agents and the tenants themselves. They also inconvenience the current tenants. As mentioned above all too often, people end up looking round unsuitable homes, and the ability to take a virtual tour beforehand can help make sure that only serious and suitable applicants actually have a physical tour. Another benefit of virtual viewings is when a physical viewing is not possible. For example, some tenants may need to sort out accommodation from abroad, or from the other end of the UK and the more accurate an impression of the property they can get, the more likely they are to commit to it and be happy with it when they move in. It appears that virtual viewings are here to stay with clear benefits for agents, tenants and landlords. n

Sarah Hazzard 07717 227 390 sarah.hazzard@galbraithgroup.com

Do Your Research The more you prepare for a viewing the more you will get out of it. Download a copy of the sales brochure and Home Report and read through them, noting down any points you may wish to explore further before making a visit. The recent pandemic has encouraged sellers to embrace technology and a number of properties now provide virtual tours or videos which can allow you to get to know the property before you have left your home. If the property is within an area which is unfamiliar to you then google maps and streetview can allow you to get a feel for the property’s situation and the proximity of neighbouring properties and shops.

Arranging the viewing Before contacting the agent be clear on when you are available, if viewing with a partner then establish their availability as this will ensure the viewing is set up as efficiently as possible. When speaking to the Agent it is important to be clear on your current position, would you have to sell your own house? If so is it on the market? Will you require a mortgage, do you have an

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More specialised local information can often be gleaned from the owners if they are carrying out their own viewings

agreement in principle? It is widely publicised that being a cash buyer is beneﬁcial but important to remember the term refers to parties with the cash in the bank. There are a number of transactions which take place subject to the sale of a property or pending mortgage conﬁrmation and it is always best to be up front about your situation from the outset.

Know what you are looking for There are a number of fantastic properties on the market; however, it is unlikely you will ﬁnd your dream property at the start of your search. It is therefore beneﬁcial to keep an open mind and this should not stop you from creating a wish list. This list will allow you to build a picture of what you really must have and the areas which you can compromise on and will assist you throughout your property search. It can also be useful to advise Agents of your wish list to allow them to build up a picture of your property requirements.

Viewing It is important to remember that you are visiting someone’s home and as such treat them as you would wish to be treated should someone visit your home. Often you may want to take

photos or videos for your own reference or to show other family members, always ask if the vendor is happy with this. Whilst it is common place for buyers and sellers to discuss the reasons behind the respective moves during a viewing the negotiations should be left to the sales Agent after all that will be one of the main reasons the seller has appointed an Agent to act on their behalf.

Knowing who to ask for information Initially, local information can often be provided by the Agent as they will have a good understanding of the local area. The Agent should also have an understanding of why the property is for sale and the sellers preferred timescales. More specialised local information can often be gleaned from the owners if they are carrying out their own viewings; for example what the local roads are like during winter conditions, are the neighbours friendly, where are the best places to shop locally. The property may also have a shared driveway or water supply which will have legal agreements in place covering maintenance but the owners/sellers are often best placed to advise on how these arrangements work in practice.

Following the viewing After the viewing you will have a lot to take in and discuss and it is always worthwhile communicating your initial thoughts to the sales Agent. If you are interested then it may be worth noting your interest in the property. Often people will view a number of properties and then create a shortlist of properties that are of interest and you may wish to arrange a second viewing of these properties to allow other family members to see the property or to investigate a speciﬁc area ahead of submitting a formal offer. We have seen a strong demand for property since the pandemic and with competition for property being at an all time high you need to be in a position to put forward an offer that you are comfortable with as soon as possible to avoid missing out. Noting your interest will ensure you are notiﬁed if a closing date is set but it will not guarantee you will be invited to offer if a closing date is not set. My advice would be if you like a property you need to lay your cards on the table as soon as you are able. n

Richard Stewart 07792 503 637 richard.stewart@galbralthgroup.com

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Moving from England to Scotland Will working from home be the new norm? It seems it just may be.

esearch shows that although it started as a way to keep staff safe at the start of the pandemic, remote working may be here to stay. It can make for a better work/life balance by allowing people to live further from their workplaces without the need for the daily commute.

One of the major differences to grasp is that whilst negotiations to purchase can take place verbally with the seller or their agent, the formal offer to purchase must be submitted on behalf of the buyer by a Scottish solicitor. It is this offer that forms the basis of the contract, in the same way that it would in England and Wales.

As a result, we are experiencing a signiﬁcant increase in the number of enquiries from people looking to move from cities and towns in England to rural areas in Scotland.

When a buyer is seriously interested in a property they will ask their

Although similar, there are a few differences in the Scottish buying process. Below are some pointers to guide you; In 2009, Scottish Home Report Surveys & Valuations (or Home Reports) were introduced. Paid for by the seller, they provide potential buyers with a basic home buyer’s condition survey, an Energy Efficiency Rating (EPC) certificate and, importantly, a valuation of the property. This valuation is carried out shortly before the property is brought to the market and is the professional opinion of a Chartered Valuation Surveyor. This valuation, which can be relied upon for mortgage purposes, is valid from 12 weeks of the date of survey. Beyond that the value may have fluctuated too far for the bank to make a mortgage lending decision on (like any other asset of investment.). If the marketing period goes beyond 12 weeks the most likely scenario is that the price is updated post negotiations to purchase at the expense of the seller who first provided the report. 22

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This valuation, which can be relied upon for mortgage purposes, is valid from 12 weeks of the date of survey.

solicitor to note interest. This ensures that the agent and seller know their interest is genuine and that they are likely to make an offer. When noting interest in a property, a buyer’s solicitor will ask how many other notes of interest there are on the property. The more notes of interest, the higher the level of competition and the more a buyer is likely to have to offer to secure a property. Once a seller has two or more notes of interest on their property the estate agent will normally set a closing date. However, the seller isn’t

under any obligation to do so. For example, if the seller receives an exceptional ‘pre-emptive’ offer that they think won’t be matched or they decide it has only recently been advertised or if they have a number of viewers booked in who have yet to see the property. A closing date is simply a date and time, set by the seller’s agent, by which offers must have been received through a Scottish Solicitor from any parties interested in purchasing the property. Closing dates (or sealed bids) mean that each person submitting an offer does not know details of any other offers that may be submitted. Because of this buyers are motivated to submit their best offer for a property at a closing date. Again, the offer must be submitted by a Scottish Solicitor. Although generally a seller will be tempted by the highest offer, there are a number of other factors that a seller will consider when picking the successful offer. An entry date that suits the vendor’s next move is one factor. A cash offer is far more desirable than an offer which is subject to either mortgage funding or the sale of another property. Perhaps the reason for a lower rate of property deals falling through is that Scotland has a separate legal system from England and Wales. Under the Scottish system it is the responsibility of the buyer’s solicitor to ensure that the buyer has both the ﬁnancial means and the practical ability to purchase the property. In short, proof of funds must be provided to the

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buyer’s solicitor before they will make an offer on your behalf. It is different from the system in England where the buyer makes an offer without the support and advice of their lawyer and can subsequently discover some time later that they do not have the means or ability to purchase the property, meaning wasted time, money and effort for all concerned.

Attraction of the North East of Scotland

One ‘myth’ which people often believe to be true is that in Scotland this offer is contractually binding. This misconception is based on the historical process but this was all in the days before planning permissions, environmental searches, damp and mortgage surveys. Nowadays these must all be investigated before an offer can be deemed binding. Today, the offer is seen as a basis of the start of a contract and a moral understanding that the purchaser is committed to buy (unless there is a real disaster or problem with the subsequent legal, survey or ﬁnance conditions.) This point in time when the buyer is contractually bound to purchase and the seller to sell is called ‘Exchange of Contracts’ in England and Wales and ‘Conclusion of Missives’ in Scotland. This is essentially the same thing by two different names. To summarise, the system is broadly the same in process, but not procedure. In order, what happens is: • Seller decides to sell • Seller pays for Home Report to completed

Our property market jumped back into action in June 2020, and immediately there was a notable increase in people from throughout Scotland, the wider UK and around the world getting in touch with us.

• Property goes on Market • Viewing – this can be virtual, or in person • Purchaser decides to make an offer Note of Interest and closing date or Offer negotiations • Formal Offer through a Scottish solicitor • Conclusion of Missives (the exchange of contracts) • Completion – called ‘Date of Entry’ in Scotland We have helped thousands of buyers moving from England and Wales (and further aﬁeld) to Scotland and will be pleased to talk you through the process. We always stay in close communication with the purchaser as well as the seller to ensure the process goes smoothly right up to the date of entry and sometimes beyond. If you have a rural lifestyle in mind, please give me a call. n

Polly Cregan 07867 977 633 polly.cregan@galbralthgroup.com

rimarily wanting to talk about the Aberdeenshire property market, which is unsurprising given the nature of our business, but often the conversation quickly turned to the lifestyle on offer here; the beautiful coastlines, quality of life, the outdoors, work opportunities and even our castles and golf courses. For some buyers Aberdeenshire appears to be a wild card move, and in many cases there remains a connection from family or friends going back years. But there is no doubt the past year has encouraged people to reassess, not only where they live, but more importantly the lifestyle they lead. Often people connect Aberdeen to Oil, and rightly so, as we remain the Oil capital of Europe, but there is so much more beyond this and we believe the word is getting out… The North East of Scotland has spectacular scenery, wildlife, around 50 golf courses, distilleries and over 260 castle and ruins dotted around the countryside, making for great weekends & down time, with endless adventures and outdoor activities. Our majestic landscapes meet the sea and the dramatic coastline means the beach is on many of our doorsteps with charming ﬁshing villages to meander through. Heading inland, Balmoral and the Cairngorm National Park are only an hour drive from the city, which offer some of the tallest mountains and most dramatic scenery in the UK. Whether you wish to live an idyllic rural lifestyle, live off the land with your hens and chickens, in the Aberdeenshire countryside or needing that second getaway home, yet require to be in Hannah Christiansen London within a couple of 01224 860710 hours, the North East gives it hannah.christiansen@galbraithgroup.com to you. n 23

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The Connection Revolution There probably isn’t much you would be willing to bet your house on. However, demand for rural property is as safe a wager as you are going to get.

ural property has always been desirable, for the space, seclusion and opportunity that it offers. Historically, the more remote parts of northern Britain (Population density circa 65 people per sq. km – compared with 250 people per sq km in the Home Counties) were places to holiday, perhaps retire or generally to enjoy the good life. The last year or so, changed all that. The enforced need and subsequent ability (albeit with its many challenges for some) to work from home has been a major factor in many rural house purchases during the pandemic. Good connectivity, either through broadband, strong 4G or a satellite internet connection, has become a must. The dramatic shift to homeworking has enlightened purchasers that if they need not be in an office or permanent location, then they can live / work anywhere. One of the main questions asked of us as agents about the features of many of the properties we marketed for sale in 2020 was “What is the internet speed?”. This led us to, in some cases, start referencing the internet speed within advertising and marketing materials. Another key feature was the ability to create a home office - within the property, in a garden room, shepherd’s hut or even a garage. Numerous articles highlighted the balance that is required for a home working discipline. Having a dedicated space is a large part of this to de-mark what is ‘at work’ and what is not. A balance many of us can relate to these days. Advancing technology makes it easier to secure a strong internet connection, not always through the traditional ‘hard line’ method. For many years the only alternative was satellite internet, which had high download costs associated with it. We have seen less of these types of systems in place in recent years as 3G, then 4G was rolled out across the country. One client recently told me they had switched off the ‘landline’ and relied solely on 4G data internet connection, as they were fortunate to have line of sight to a 4G mast on the nearby hill. Galbraith also found that intergenerational living was a deciding

factor in many sales during 2020, with strong demand for houses offering an annexe or suitable accommodation for extended family, as limitations on travel and interaction became limited, beyond the world of Zoom or similar. The residential sales offices across the firm saw a 20 per cent increase in sales compared with 2019, despite the housing market being closed for several weeks in the Spring of last year. The demand from July 2020 was not just an anomaly, it is a trend that has continued since. The average price of property sold by Galbraith increased by 11 per cent year on year, with significant competition for homes in good locations. A premium of up to 30 per cent in excess of the asking price was paid in some cases due to the extraordinary interest in rural homes, a trend which again appears to have continued into 2021. The strong demand has brought interest to some rural areas and property types, not previously particularly sought-after. The Scottish Land Buildings & Transaction Tax (LBTT) thresholds returned to their previous level on 31 March but the end of that incentive is not likely to make a significant difference to the rural market in Scotland as its monetary value was comparatively small, relative to the cost of a house purchase. Other factors will remain positive – for example mortgages will remain relatively easy to obtain, in all likelihood, and the historically low interest rates are set to continue in 2021. The underlying market fundamentals remain strong: We expect a very active property market throughout this year as many of the factors that were relevant in 2020 will be replicated. There will continue to be good demand for country homes as people are looking for a rural retreat, a larger garden and a good degree of privacy. n

David Corrie 07824 690 199 david.corrie@galbraithgroup.com

After over 30 years in the same office in Kelso, we decided we must ﬁnd a bigger and better place to call home. The very prominent location of our old office was no longer sufficient to stay where we were.

new office at 21 Woodmarket was identiﬁed and we obtained planning consent for a change of use from retail in February 2020. All was set for us to move by the end of March – when our old lease expired. Timing was tight as we were not due to obtain possession of the new office until 16th March and we then needed to have it redecorated, partially rewired and made ready for our move. We also needed to organize matters such as IT, furniture, signage, displays etc. Meanwhile, the Coronavirus pandemic was gathering pace and we were beginning to hear talk of possible lockdowns. Galbraith’s property risk assessment was updated on 20th March to include a section on COVID-19 checks. Concern over a potential lockdown prompted us to bring our proposed physical move day forward from 25th March to 24th March. The decorators and electricians were hurried up and IT and furniture removal arrangements were made. On 23rd March we were advised that the removal of our old office signage would need to be delayed as the

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Moving office during Lockdown contractor lined up to do this needed to self-isolate! We then all listened to the announcement of the lockdown, with immediate effect, on the evening of 23rd March and the following day’s office move was put on hold. We were ready to negotiate a lease extension with our old landlord until lockdown restrictions were lifted. By 26th March it seemed clear that an extension to our old office lease was not going to be possible and a decision was made that we would need to move office on 27th March. Luckily the new office is fairly close to the old one. One of the excellent Kelso staff, who lives across the road from our new office, managed to get it and clean it – the decorators having now left – and between 8am and 3pm on Friday 26th March, myself and two colleagues managed to carry out a hurried, but socially distanced move which left the new office looking like a bomb had hit it! Luckily, Duncan, one of our partners who assisted in the move, had the strength to manhandle desks and ﬁling cabinets on his own, allowing us to observe social distancing, and Justian, the Head of our IT department, was able to move the computers and photocopier from the old office to the new one. They

could be made usable once the lockdown was relaxed. The local Police, who were visibly patrolling Kelso’s town centre on the day of the move, appeared to be happy with our efforts at a responsible move and did not question us once. It was an exhausting day and I needed a good Speyside malt that evening. Between 28th and 30th March the excellent Kelso staff, who all live in Kelso, managed to clean the old office as part of their daily exercise routines. Very temporary window displays were set up in our new office and on 31st March we took ﬁnal meter readings in the old office, blocked the letter box and posted the keys to our Landlord. At the time we thought that it may be a few weeks before we could sort the new office out. However, we ended up having to wait two months before we could even get in to tidy it and have the IT at least partially up and running. A month later, on 30th June, we were able to open the office on a restricted basis with access “by appointment” only, taped off areas and multiple notices regarding our COVID-19 precautions, masks and social distancing in place. Luckily, our move to a larger office meant that we

could easily handle the social distancing guidelines – which would have been virtually impossible in the old office. We remained open on this basis until 24th December 2020, and managed to get the office largely ﬁtted out and window displays installed. The second lockdown from 26th December has meant that we are still unable to officially open our new office. However, at the time of writing (mid-March 2021) everything is beginning to look more hopeful and we are lucky that the rural nature of the Scottish Borders, along with its responsible residents, means that we currently have very low numbers of people with Covid-19 here. We now have a much better Kelso Office and are ready to welcome visitors as soon as restrictions allow. Hopefully this will have been our one and only office move during a lockdown. n

Alex Inglis 01573 224 244 alex.inglis@galbraithgroup.com 25

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The enduring appeal of a perfect place to live The North East of England, as I never tire of saying, is the perfect place to live, with good schools, glorious wild open spaces and affordable property. From the Lake District to the east coast there is an abundance of great community spirit and attractive market towns.

he property market in the North of England was in fine fettle when Galbraith launched its Hexham office estate agency team in October 2019. Since our initial launch there have been only five months unaffected by the pandemic. Undaunted, we have sold and are selling a selection of very attractive and varied properties ranging from holiday cottages in the Lake District, to a contemporary ecohome in Hexham, a 440-acre investment farm near Capheaton, the magnificent Coupland Castle in north Northumberland and the major part of a Grade II listed Georgian mansion in County Durham, as well as a 125 acre residential farm, several farmhouses, a site to build apartments in central Hexham, barns for conversion and traditional cottages. We have developed a productive partnership with national house builder, Bellway, where we are selling a crescent of grade II listed houses that they have painstakingly renovated on the edge of popular Ponteland. As we know, the rural residential sector boomed in the summer of 2020 as frustrated buyers rushed to benefit from the re-opening of the market. But this year the exceptionally strong demand for rural property continues, with our book of instructions doubling in the month of March alone. A significant percentage of buyers have grown up here, moved to the 26

South East for work and are returning to raise their family in an ideal setting. (Did I mention that the North East of England is a fantastic place to live?). This year the regular stream of returning ‘expat Geordies’ is becoming even more of a reality. The ﬂexibility of working from home means you don’t really need to commute although the trip to London can still be done in less than three hours. We have sold the lion’s share of our clients' houses and sites at prices above the asking price and, in most cases, without signiﬁcant time on the market. What can we learn going forward? Firstly, there is no substitute for personal service – getting to know our clients and their properties well and keeping them informed with very regular updates. We have strived to avoid the cliché of the high street estate agent and the stuffy rural agent. Secondly, we have avoided the temptation of overpricing property that we are bringing to market, which ultimately will frustrate the seller and not produce the desired result. We look forward to continued growth and look forward to helping transform a great many people’s lives as they move house. The people who choose to live in the North East love it… and for good reason. n

Sam Gibson 07769 687 978 sam.gibson@galbraithgroup.com

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there is no substitute for personal service – getting to know our clients and their properties well and keeping them informed with very regular updates.

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The importance of a property inventory Inventories for private rented properties are imperative. They protect both the landlord and the tenant and this is one of the vital key points that are overlooked by do-it-yourself landlords.

Why is an inventory important? The inventory is important because it’s an account of what everything looked like at the start of the tenancy. By being thorough, you are putting yourself in a good position when your tenancy comes to an end. If everything is detailed for everyone to see, you’re less likely to ﬁnd yourself in a dispute at the tenancy end date. Without the inventory, you have no proof of the property’s condition and if the tenant makes decoration changes with drastic colour choices or damages occur, you have no proof of the original condition to request charges from the tenants deposit. If there is a detailed inventory, or if there is no inventory at all, the adjudicator whose job it is to deal with any disputes is highly likely to reject a landlord's claim. Therefore, while it’s not a legal requirement for a landlord to provide an inventory of their rental property, it’s in both their and your best interests to supply this detailed look at its condition.

How is an Inventory Prepared The landlord, a letting agent or an independent inventory clerk should prepare the Inventory which should be agreed with and signed by the tenant on move-in day. The Landlord or Agent and tenants should sign the Inventory and initial every page to signify agreement.

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An inventory should also record the property keys provided and also note utility meter readings to make sure tenants are only liable for the usage during their tenancy period

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A good, detailed property inventory is going to be vital for claiming damages, cleaning or redecoration from a deposit. Your property inventory should detail the condition of every room in the property. This includes walls, ﬂoors, ceilings and even doors. Basically anything you can see should be noted. Any key discrepancies should also be accounted for within the document. Photographs should also be taken and dated. A photo of the room as a whole but also any key areas to note within each room. For example, if there is a scratched kitchen tile then this should be referenced within the report. An additional photograph should also be taken with something placed next to the scratch to help give an idea of the size scale. Gardens and additional items outside should also be included, gardens are the most common charge from a tenants deposit. An inventory should also record the property keys provided and also note utility meter readings to make sure tenants are only liable for the usage during their tenancy period.

During the Tenancy If the tenant makes changes during the tenancy, these must be requested and agreed in writing. Changes can then be added to the original inventory that will be used as proof at the end of the tenancy. If the tenant makes changes without permission, the original inventory will not match and deposit deductions can be requested.

End of Tenancy & Deposit Return This is where your original property inventory is key. At the end of the tenancy a check-out inspection will be conducted, the landlord, agent or independent clerk will return with the original inventory to check everything is as detailed on the original inventory. Fair wear and tear must be taken into account. If the landlord didn’t have a written inventory or photos, the tenant wouldn’t be charged as there would be no proof of condition at start of tenancy. No evidence? No property inventory? It is near enough impossible for the independent adjudicator to side with you, unless you have photographic and detailed evidence. n

Susan Guthrie 07778 000 657 susan.guthrie@galbraithgroup.com 29

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Home Reports Some Do’s and Dont’s for both Sellers and Buyers Since December 2008 almost all residential properties openly marketed in Scotland must have a home report. It should be made available to all potential purchasers and their advisers during the sale.

home report is basically a seller’s pack which is produced by a Chartered Surveyor and provides the purchaser with information on the condition and value of the property. It contains a single survey (a detailed report on the condition and value of the property), an energy performance certiﬁcate (details the property’s energy efficiency) and a property questionnaire (a form completed by the seller and containing useful information on the property). The home report will often be used by potential purchasers to help them decide whether or not to view a property. It will also inﬂuence their buying decision and any borrowing they wish to secure.

Notes to Sellers • It is normally best to let your agent organise the home report. They are likely to know the local surveyors and can discuss the property with them if they have any concerns. They will also know which surveyors are likely to be acceptable to most lenders • Once you have received your draft home report it would be best to discuss any repairs raised in it with your agent. Decisions can then be made on whether or not to tackle any of the repairs or to obtain estimates for them. • Read the draft home report carefully in case the surveyor has made any factual errors. • Take care when completing the property questionnaire. If

you are unsure of any answers don’t hazard a guess • Advise both the agent and home report surveyor of any changes you make to your property during the sale i.e. if you repair or improve the property -or its condition deteriorates. • It is best to have the home report completed shortly before the launch date for the marketing exercise so that it is as up-to-date as possible during the sale. The sale must commence within 12 weeks of the home report inspection. • Be aware that the home report lasts for as long as your property is on the market. However, you will most likely be asked to obtain a replacement home report for the purchaser if the sale goes

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through more than three months after the home report valuation date. This is because lenders do not want to rely on a valuation report which is more than three months old.

Notes for Buyers • Pay particular attention to the home report valuation as it will affect your borrowing – if required. • Remember that the home report valuation should reﬂect the current condition of the property. Don’t expect to secure the property at a lower price than the home report valuation because some repairs have been highlighted. • Check the condition of the property but don’t let highlighted repairs put you off too quickly. Older properties will normally need some

repairs and if you have concerns about highlighted repairs it is worth discussing these with the agent. Unfortunately it is not possible to speak to the home report surveyor until you have had an offer on the property accepted but the agent may have already discussed the repair with the surveyor. • Check the accessibility section of the home report for anyone with limited mobility. • Check the Energy Performance Certiﬁcate as the property’s energy efficiency will affect your future fuel bills. • Read the property questionnaire as this normally contains useful information – unless he seller is unfamiliar with the property i.e. it belonged to someone who has died.

Conclusion Home reports appear to be here to stay in Scotland and most buyers like and make use of them. Most lenders will also accept home reports prepared by surveyors known to them. However, if a potential purchaser is concerned by any of the contents of a home report they should speak to the agent about their concerns before deciding to dismiss the property. Very few, if any, properties are in perfect condition. n

Alex Inglis 01573 224 244 alex.inglis@galbraithgroup.com 31

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Offices across Scotland & Northern England

Elgin 01343 546 362 elgin@galbraithgroup.com Inverness 01463 224 343 inverness@galbraithgroup.com Aberdeen 01224 860 710 aberdeen@galbraithgroup.com Perth 01738 451 111 perth@galbraithgroup.com Cupar 01334 659 980 cupar@galbraithgroup.com Stirling 01786 434 600 stirling@galbraithgroup.com Edinburgh 0131 240 6960 edinburgh@galbraithgroup.com

Scottish Borders 01573 224 244 kelso@galbraithgroup.com Ayr 01292 268 181 ayr@galbraithgroup.com Castle Douglas 01556 505 346 castledouglas@galbraithgroup.com Hexham 01434 693 693 hexham@galbraithgroup.com Blagdon 01670 789621 blagdon@galbraithgroup.com Penrith 01768 800 830 penrith@galbraithgroup.com

Expertise Galbraith operates from 13 offices across Scotland and Northern England bringing our clients a wealth of experience in: • Residential estate agency • Property lettings • Commercial property sales & management • Estate, farm & forestry sales & acquisitions • Estates, farming & land management • Natural Capital • Renewables and utilities • Building surveying • Commercial forestry & woodland management