Savills has reported that the number of homes in Scotland worth at least £1m has exceeded 10,000 for the first time ever in 2022. The exact number give or take a few is 11,481. An increase of 1,661 properties from 2021 and a 3-year change of 5,095. See the table below.
Region | 2022 | 1 year change | 3 year change |
---|---|---|---|
Scotland | 11,481 | +1,661 | 5,095 |
London | 342,949 | +10,454 | 42,851 |
Wales | 4,899 | +1,001 | 2,910 |
Whilst most of us probably can't afford one it is good to see that property in Scotland has the ability to achieve high levels which in turn attracts wealthy individuals who not only want to live in Scotland but spend and invest. Despite our housing issues at the opposite end of the market we still need some wealthy residents!
More than half of the properties in Scotland valued at £1m or more are located in Edinburgh.
Of course, we are nowhere near the numbers of London, not that anyone would have expected that!
I have also included Wales in the table above as they have seen the largest increase across the entire country. A 26% increase since last year and a 146% increase in the last 3 years.
Also worth noting is that more than half of the properties valued over £1m (53%) are outside of London. That is the highest number outside of London we have seen in 15 years.
Lee Wisener, CeMAP, CeRER, CeFAP
Having worked in the mortgage industry for over 20 years I have always wanted to build a website dedicated to the subject. Also being a geek when it comes to the internet all I needed was time and I could both build the site from scratch and fill it with content. This is it!
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