By
John Kelly
Managing Partner
It’s not hyperbole when I say Corum has brought more million-pound homes to market this year than any other agent across Greater Glasgow and the West of Scotland; both publicly and privately. The sheer appetite we are seeing from buyers at this level is, simply put, nothing short of extraordinary.
Competing offers have become something of the norm on homes ranging from £1 million to well in excess of £3 million, especially in the wake of the summer holidays. That, by any measure, is extraordinary.
Here’s the thing, though: there is no secret formula to why we’ve been successful in this pocket of the market. It comes down to the fundamentals – building relationships, cultivating a genuine network of motivated buyers, and applying a deep understanding of pricing strategy.
It’s also important to dispel a common myth. Our buyers aren’t strangers to Scotland; they are, more often than not, local. There is a great belief that overseas capital is required to sustain the top end of the market, but the truth is that our success is driven by domestic demand. The people moving into these homes are part of our communities already, and their confidence in the market reflects something far greater.
The inescapable truth about the top end of the market is this: it is in as good a position as I’ve seen in my forty years in the industry. Just this week, we met with two clients preparing to launch their homes in the spring. My advice? Why wait. The market is in such an incredible place right now, and conditions are firmly in their favour.
The prime and super-prime markets in Scotland act as something of a bellwether for the wider property market. When conditions are strong at the top, you can be assured that confidence will ripple outward; to the middle tiers and beyond. This year has brought challenges and competition, but it is heartening to see our consistent strategy, the same one we have followed since Corum opened its doors 22 years ago, delivering so strongly for our clients.
For me, the million-pound market is not a headline, it is a truth that reflects the strength, resilience and aspiration of Scotland’s homeowners. And right now, that truth is inescapable.
Disappointed buyers wait in anticipation…