It feels slightly strange to be writing about events in the Middle East and asking whether they might influence the decision of someone in Glasgow to move home. Yet geopolitics rarely stays contained to one corner of the globe, and the ripples of recent events in Iran and the surrounding region are already being felt closer to home.
Petrol prices on the forecourt have edged upwards and, for those in more rural parts of Scotland, the cost of heating oil has begun to move again. Much of that stems from the disruption to shipping through the Strait of Hormuz, a route that carries a significant proportion of the world’s energy supply, which has caused the price of oil to rise to over $100 a barrel.
Against that backdrop it is perhaps inevitable that headlines begin to speculate about wider economic consequences. The media, quite understandably, will focus on the angles that generate attention. This week the BBC reported that 497 mortgage products had been withdrawn from the market. In isolation that sounds dramatic.
But context matters.
Even after those withdrawals there are still more than 7,000 mortgage products available to borrowers across the UK. Many of the products removed are the more niche offerings that come and go regularly as lenders refresh their ranges. It is part of the natural churn of the mortgage market rather than a sign of systemic retreat.
“The short answer is that, for now at least, it is very much business as usual.”
“The short answer is that, for now at least, it is very much business as usual.”
Which brings us to the more practical question: what is actually happening on the ground in the Scottish housing market?
The short answer is that, for now at least, it is very much business as usual.
March 2026 has seen a 26% increase in the number of buyers actively viewing homes through Corum compared with the same period last year. In the million-pound-plus market alone, we arranged viewings with more than 60 buyers across several properties priced to achieve north of seven figures.
In the space of a week, in Bearsden, more than 30 buyers stepped through the door of bungalows priced around £750,000. In Glasgow’s West End, 25 prospective purchasers are currently weighing up offers on an apartment priced above £500,000. Our Troon office coordinated 18 viewings for a semi-detached home on Beach Road that has every chance of setting a new local benchmark.
Below the £500,000 mark the numbers are even more telling. So far this month we have arranged more than 1,500 individual viewings across the homes we are marketing – and we expect that number to be closer to 4,000 by month end.
These figures are not shared as a boast. They are simply the reality of the market we are operating in.
“As a country we have become somewhat inured to high drama.”
“As a country we have become somewhat inured to high drama.”
Over the past decade the UK has endured no shortage of dramatic moments. Brexit, a global pandemic, inflation shocks and successive economic resets have all tested confidence at different points. Yet the housing market has shown remarkable resilience through each of them.
Part of that resilience comes from familiarity. As a country we have become somewhat inured to high drama. Buyers and sellers have learned to separate headline noise from the fundamentals that actually shape their decisions, and those fundamentals currently remain supportive.
Interest rates are at their lowest level in three years. The Bank of England expects inflation to move towards the 2% target during the spring. Mortgage availability remains broad, with thousands of products available to borrowers across a range of circumstances.
So while the weight of world events inevitably reaches us all in some form, the Scottish property market itself remains remarkably steady.
If recent weeks are any indication, buyers are still keen, sellers remain confident and homes continue to change hands at a healthy pace.
As ever, if you have questions about the market, or simply want to map out what a move might look like for you, our doors are always open. The kettle is always on, and we would be more than happy to sit down for a coffee.