Ex-pat Brexit bounce on Scotland's west coast

Ex-pat Brexit bounce on Scotland's west coast

The EU referendum result is providing an unexpected boost to the property market on the west coast of Scotland, according to a local land and estate expert.

In recent months, Oban-based Bell Ingram has seen a significant rise in enquiries from British ex-pats seeking to return to the UK, and particularly those looking to move to Argyll and the Isles.

Will Banham, of Bell Ingram’s Oban office, said while there has always been prominent international interest in property available throughout the Highlands and Islands, the Brexit vote has caused a noticeable increase in demand.

Will said: “We’ve been surprised by such a marked jump in international enquiries, particularly for Island properties. Recently, we’ve had ex-pats in France, Portugal, The Canaries and Denmark get in touch. The Isle of Mull in particular seems to be of real interest to these buyers.”

Factors driving the trend appear to include perceived value for money and the possibility of Scotland retaining a closer relationship with the EU post-Brexit than the balance of the UK.


In what has been a turbulent year for the Scottish property market, the new 3% premium in LBTT (land and buildings transaction tax) for second homes, the EU referendum and the possibility of a second independence referendum have all had competing impacts on market demand.

Will Banham continued: “The English retirement market has unexpectedly strengthened following the Brexit vote with many retirees looking to move to the west coast sooner rather than later. This has counterbalanced the reduction in demand for holiday homes or for young families looking to get out of the rat race.

Typically, we now have an older buyer profile looking for properties with manageable gardens and good views. For the first time in many years, big plots and acreage can actively discourage buyers.”

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Latest Comments

Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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