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Latest News
No Sale - No Fees
JUN 20, 2010
Homeowners who sell their home through GSPC can now get their Home Report and all the property advertising they need without paying a penny upfront and without having to pay for either if their home doesn't sell. The new deal, which is available through all GSPC member firms, removes a major barrier to moving home. The cost of getting a Home Report, which has to be in place before the property can be legally advertised, worries many homeowners and simply postponing the charge until later still leaves many concerned that they will face a potentially large bill even if their home doesn't sell. Now, however, you can put your home on the market secure in the knowledge that you will only have to pay for your Home Report and advertising if your home sells. If it doesn't, your Home Report and property advertising are free. GSPC Chief Executive, Bill Scouller, believes that the new deal could help thousands of people to move. He said: "We know from first hand reports that a significant number of people who would like to move don't take the first step and put their home on the market because they are worried about incurring costs that they could only pay comfortably out of the sale proceeds of their home. ‘Pay only on Sale' is the answer for those prospective sellers, enabling them to market their home effectively without facing the prospect of a large bill that they can't afford.
RICS Report House Price Increase
MAY 11, 2010
The Royal Institution of Chartered Surveyors said its monthly house price balance rose to +17 last month from an eight-month low of +9 in March. Economists polled by Reuters had forecast a steady reading. The survey chimes with figures from the Nationwide Building Society which showed prices recovered last month after a disappointing start to the year. "The start of spring has seen renewed optimism with the good weather improving sentiment and surveyors expecting an increase in both sales and house prices," said RICS spokesperson Jeremy Leaf. London led the upswing in prices, with a price balance of +55, up from +32 in March. Prices rose in all regions except for Wales and Yorkshire and Humberside. The sales expectations net balance rose to +25 from +6, while the price expectations balance moved back into positive territory, rising to +7 from -2. The new buyer enquiries balance rose from +1 to +8, the highest reading since December while the new vendor instructions balance fell from +21 to +11. Record low interest rates and hopes of economic recovery helped British house prices rally in the second half of 2009 after shedding as much as a fifth during 2008
Residential Sales increase in first quarter of 2010
APR 10, 2010
Residential property sales in west central Scotland rose significantly in the first quarter of 2010 despite atrocious weather in the first few weeks, a delayed spring and now a looming general election. But prices dipped by 3.0 per cent compared to a year ago according to the latest GSPC House Price Survey. The analysis for the survey is conducted independently by Professor Gwilym Pryce of the Urban Studies Department at Glasgow University and includes more transactions in the west of Scotland than any other index (with the exception of the Registers of Scotland). Paradoxically, however, the dip in prices could be a sign of continued recovery in the property market rather than the start of a ‘double dip'. According to GSPC Chairman, Michael Samuel, the apparent fall in prices could well be the result of a rise in sales: "In the first three months of 2010 we have seen rising sales of homes that have been on the market for some time. Until recently, these properties had been ‘stuck' on the market and so did not show up in the sales data. Now that activity has picked up to the point at which they are selling, they are included in our results and are depressing average selling prices. This is a result, however, of stronger, not weaker, demand. "This would explain the many apparent contradictions we are currently seeing in the property market. Sales are almost 14 per cent higher than over the same period last year yet selling times have, apparently, lengthened. In some areas, properties are selling at closing dates for figures well above their Home Report valuation, yet average selling prices are lower. Those contradictions only make sense when you realise that rising sales will include some properties that had previously proved difficult to sell".
38,000 Web Site Visitors
APR 09, 2010
With every week the Arran Property web site gains more prominance and a greater number of visitors. Each day our web site has been attracting huge numbers of visitors and on some days nearly 400 prospective buyers are viewing properties per day !We are exceptionally pleased to see that over 38,000 home buyers have viewed our site since October.
Property Videos on Line !
MAR 18, 2010
After much work, we have now launched our property video service. Over the next few weeks more and more of our properties will have a video which will play from the web site. Why not press the "video button" and see for yourself. We are continuously trying to improve the service we offer our clients and our buyers and these videos will give more information and give the properties a wider exposure to the property market.
Arran Property join Glasgow Solicitors Property Centre !
FEB 25, 2010
Arran Property have joined Glasgow Solicitors Property Centre ! . On the 25th February 2010, Arran Property was purchased by Miller Stewart Solicitors who are existing GSPC members. We shall now market all properties with Glasgow Solicitors Property Centre, this will further extend the levels of service, professionalism and ensure that all existing and new properties are given the widest exposure to the property market.
Arran Property Web Camera
FEB 24, 2010
As regular watchers of our web camera will notice, it has moved !! It now looks out over the Brodick Bay, with open views of Goatfell.
Web Site Visitors - February 2010
FEB 24, 2010
In only five months the Arran Property web site has attracted over 27,000 visitors. Each day we are recording in excess of 300 new visitors to the site. With the recent addition of "web videos", we are convinced that more visitors will be attracted to the site.
House Sales on Arran & New Instructions
FEB 20, 2010
Along with the upbeat reports in the press regarding the improving market for 2010, over the first two months of 2010, Arran Property have experienced a terrific uplift in the property market, buyers for both holiday homes and main homes have returned to the market and this has been confirmed in the recent increasing sales figures. New instructions have increased and no less than eighteen new properties were placed with us in the first seven weeks of 2010, which has resulted in five offers.
Nationwide & Halifax House Price Surveys
FEB 04, 2010
The papers have been full recently of stories about rising house prices. Earlier reports from the Nationwide and the Halifax have been largely confirmed by official data from the Registers of Scotland and the Department for Communities and Local Government. All the reports are actually referring to roughly the same period with the official data for December emerging in February about a month or two after the reports issued by the lenders and the RICS. But the sheer volume of reports and the coverage they receive risks giving the impression that prices are rising more strongly than is actually the case. The temptation is to assume that the property market is back to normal and that we are at the start of another steady rise in prices when that is far from the truth. Certainly, there is good news coming through. Lloyds Banking Group (which now owns the Bank of Scotland and the Halifax) is gearing up to raise money in the markets by selling mortgages - yes the very RMBS (Residential Mortgage Backed Securities) that were at the heart of the credit crunch. The bank raised £4 billion last September this way and is hoping to raise another £2.5 billion now. The Co-operative Bank (which now owns what was the Britannia Building Society) is doing the same and also hopes to raise £2.5 billion. Since retail deposits aren't going to be enough to support mortgage lending, the news that at least some banks can raise some money from the markets gives grounds for hope that mortgage availability might improve. There are some signs that this is already happening. Mortgage Brain, which supplies mortgage information to financial advisers, says that nearly 1,000 new mortgage products were launched in January - the biggest monthly increase in product numbers for over a year. The company says that this is the seventh month in a row that product availability has increased, with products numbers up 78 per cent on the levels seen six months ago.
January 2010 - Increasing House Prices
JAN 25, 2010
House prices were 1.1 per cent higher last month than they were a year ago according to the Halifax. It is the first time that the Halifax house price index has reported positive annual house price inflation since last May. Prices, says the lender, have now risen for six months in a row. They rose by 3.5 per cent in the last three months of 2009, the biggest quarterly increase since 2006. In common with most other commentators, including GSPC, the Halifax pinpoints last April as the market's weakest month. Since then, however, prices have recovered by almost 10 per cent. The Halifax cites low levels of properties coming on to the market and low interest rates as key factors behind the price reversal. But a new, and unexpected, element has been added to these core reasons. Martin Ellis, Halifax Housing Economist, noted: "The recent improvement in the labour market, highlighted by increasing numbers of people in employment in both September and October, has also supported housing demand".
Summary of 2009 & Predictions for 2010
JAN 01, 2010
2009 ENDS WITH HOUSE PRICES UNCHANGED ON A YEAR AGO. MORE MOVERS, BUT NO RETURN TO PRICE GROWTH IN 2010 House prices unchanged over 2009 after ‘rollercoaster' ride Selling times fall sharply as confidence improves Transaction numbers low as sellers stay put Forecast for 2010 - more movers, fewer price moves Rollercoaster year House prices across west central Scotland, the country's largest property market, are almost exactly the same as they were a year ago according to the latest GSPC House Price Survey. Despite the financial crisis, a mortgage ‘drought' and the recession, the average house price in Strathclyde currently stands at £134,400, just as it did at the end of 2008. The minor change in the headline figure, however, disguises a rollercoaster ride in the property market this year characterised by a precipitous fall in sales and a sharp reversal in prices followed by a steeper than expected recovery. Selling prices are now around 10 per cent below their peak two years ago - a much more modest fall than many expected. Prices in most areas hit their low point in the first three months of this year and have recovered some ground since then. But location is, as always, key. In Glasgow prices are now 1.4 per cent lower than a year ago, but are just eight per cent below their peak in mid 2007. Prices in other areas are now 4.4 per cent higher than they were a year ago, but the fall from the peak has been steeper - about 16 per cent. Although sales fell sharply in the first quarter of the year, this was more than matched by the fall in the number of properties coming on to the market. Over the last 12 months, the number of new homes being put up for sale has almost halved, limiting choice and driving competition between buyers in some areas. The willingness of sellers to stay put speaks volumes about their reluctance to sell their homes cheaply and their ability to hold on has been helped by ultra low interest rates that are gradually being passed on by lenders. There are signs, however, that the market has improved by more than the headline figures might suggest. Selling times have fallen quite dramatically over the last 12 months to around 80 days from a peak of 132 days at the start of the year. Widely seen as a key measure of market conditions, the reduction in selling times implies a significant recovery in confidence that is not reflected in the selling prices data. The analysis is conducted by Professor Gwilym Pryce of the Urban Studies Department at Glasgow University. It includes more transactions in the west of Scotland than any other index (with the exception of the Registers of Scotland) and is regarded as the most authoritative source of information on Scotland's largest property market. Forecast for 2010 Looking to 2010, GSPC forecasts that prices will hover around their current levels throughout the year, but expects to see a continued improvement in the number of transactions. Pointing to the sharp decline in selling times, Professor Gwilym Pryce of the Urban Studies Department at Glasgow University, who conducted the analysis of the GSPC data, says that: "The most likely explanation is that sellers are becoming more realistic about the price they can expect to achieve and are adjusting their expectations". Selling prices today, he points out, are almost exactly the same as asking prices. This trend would also be consistent with the introduction of Home Reports a year ago which, for the first time, provided all buyers with a valuation by a surveyor much earlier in the process. GSPC Chairman, Michael Samuel, says that, at the very least, the dire conditions experienced in the early spring are unlikely to be repeated next year: "Spring is traditionally the time when the property market gets in to its stride. This year, that was halted in its tracks by something which got very close to financial meltdown. Very few properties came on to the market and very few sold. But it is becoming clear that the property market is gradually clawing its way out of the downturn and spring next year should be markedly better that it was in 2009. "More homes are likely to come on to the market as sellers recognise that it is possible to sell their home at a reasonable price. The earlier perception that it is simply not possible to move will gradually evaporate. At the same time, somewhat better mortgage supply and more competitive mortgage rates, especially for those will relatively low deposits, will help to sustain demand. The result should be better market liquidity for all. The recent sharp fall in selling times suggests strongly that buyers and sellers are increasingly agreeing on what is an acceptable market price after months in which sellers expectations were way above buyers' hopes. That trend is likely to continue. "Prices, however, are unlikely to rise significantly, although there may be minor fluctuations around the current averages. Any recovery in the economy will not have an impact on the property market for some time to come - at least until real incomes start to rise again and insecurity about jobs fades. At the same time, more houses coming on to the market will widen choice and so help to spread demand. The impact of low interest rates and better mortgage availability is likely to be offset by continued economic weakness and concerns about jobs. "To use an analogy that we are all familiar with, the year started with a massive motorway pile up and the property market suffered from a huge tail back. Since then, traffic has started to edge forwards and has picked up speed in the last few months. But it will take a long time for conditions to get back to normal and until it does, we will all be in a somewhat lower gear that we would wish".
December 2009
DEC 20, 2009
House prices across west central Scotland, the country’s largest property market, are almost exactly the same as they were a year ago according to the latest House Price Survey. Despite the financial crisis, a mortgage ‘drought’ and the recession, the average house price in Strathclyde currently stands at £134,400, just as it did at the end of 2008
Sales Increase (2009)
NOV 04, 2009
As a result of our extensive marketing, new web site and national marketing, we have now exceeded our 2008 sales results in Arran !
Exceptional Visitor Numbers
OCT 14, 2009
Well what a time it has been ! Since we launched the new site 4,382 new visitors have arrived at our Site !!
Join Our Mailing List !
OCT 09, 2009
We have an automatic Mailing List which covers all new properties, all price changes and all closing dates. If you wish to be kept in touch with all new properties, why not add your e-mail to our site. This is located on the front page of the site. When completed you will automatically receive all new property details !
New Site Visits - Sweden & USA
OCT 08, 2009
We would like to thank everyone who has sent messages commenting on the new site, we greatly appreciate your comments. Also "hello" to our new visitors in Sweden and the large number of visitors from USA. It good to know that our site is being watched from far and wide. Why not save us in your favourites and keep in touch !
Welcome to our visitors from abroad !
OCT 07, 2009
Welcome to all of our visitors abroad ! From our latest site statistics, yesterday we had 14 American, 5 Australian, 3 Polish and 2 visitors from the Netherlands. We look forward to meeting you all when you arrive in Arran ! Why not have a look at Brodick on our Web Camera ?
New Arran Website website is launched
OCT 01, 2009
After a great deal of hard work from all of us on Arran we are proud to present our new Web Site! It's new ....... its different...... and has a lot more to offer you...
Thinking of renting your property?
SEP 30, 2009
WANTED- 3/4 bedroom 6 month let Brodick. WANTED1/2 bedroom 6month let, Brodick/Lamlash. If you are thinking about renting your property for 6 months or more, we can provide a full management package or a finders service.
