August 2006 - Property News with Bruce de Wert Returning from my vacation on the Continent where I found the weather to be rather too hot for comfort, I discover that the housing market, like the local weather, is somewhat cooler! You would normally expect something of a slow down in the school holidays and I think we can anticipate the market becoming busier in two or three week's time. South buyers are, happily, still evident, but they tend to be looking for a bargain with a sea view being almost an essential. They do tend to like a little land as well, perhaps up to an acre. Their current price limit, however, tends to be about £100,000. They are particularly keen on renovations. So far as the local market is concerned, above £100,000 and, particularly, above £150,000, is slow. There seem to be fewer buyers about than last year. Strangely, however, the onward march of the higher prices does not seem to be stopping. People are still prepared to make offers over asking price and there is a great deal of confidence that the future is only one way! On the subject of Property Information Packs (PIP), I understand that the Scottish Executive is still likely to press ahead with this the fact that the UK government at Westminster has dropped the proposal for home condition reports in England and Wales. My informant at the More Society who is liaising with the Scottish Executive on the matter tells me that , in Scotland, the contents of the PIP are expected to be a single survey and a pre-sale questionnaire only - it has been agreed that there is no need for other documents such as titles, etc., to be provided at the marketing stage. The projected start date is early 2008 and I would expect the costs will be equivalent to fees currently charged for a Scheme 2 Survey report as that will be the basic format for the single survey. Anything from £250-300 upwards depending on the value of the property concerned. In theory the seller can ask for reimbursement of that cost from the buyer but that will depend on "market forces"! Somehow, I doubt it. Anyone who would like to comment or for this column to touch on any particular matter, please email me on bruce.de.wert@georgesons.co.uk. Bruce de Wert has 25 years of experience and is now Principal Solicitor and Estate Agent at Georgesons, Wick and Thurso. < Back to Property News