It seems the pandemic has been responsible for some investors making that life-changing decision to move to a rural property. In fact, countryside living is fast becoming a late 2020 trend since the lifting of lockdown.
But this isn’t just about sales, as rural rentals have increased across the last quarter compared with the same few months last year. It all makes fascinating viewing for would be investors as we approach the Autumn months.
What’s more, It’s been reported in the Scottish borders 10 properties in the past two months have been converted from a holiday let to a residential tenancy agreement. It’s no great surprise of course, as there are so many benefits to be gained from rural living. Great walks especially if you have a dog, close community life, lovely pubs, fresh air and so much more.
Savvy investors interested in a change of setting but in need of a taste of day to day rural life first to try things out, will rent for a while slowly picking up knowledge about the locality. When a suitable property comes up for sale on the market, they make the decision to both stay in the area and buy. If they discover the countryside isn’t for them, renting can mean a swift change of plan going forward.
Given the new regulations on COVID-19 there’s been a sharp rise in buy-to-let investment with many owners deciding to offer a residential let as opposed to a holiday one. Why? Because of the extra security offered by a six-month tenancy agreement.
Experts In The Field
According to Galbraith, experts in the field, The average time taken to secure a tenant is just 14 days and some properties are not advertised at all due to the demand from waiting tenants. Rents are continuing to perform well across Scotland and may increase slightly over the next 12 months.
Susan Guthrie, lettings manager for Galbraith in the Scottish Borders said: “We have seen a real boom in lettings since the market re-opened. There has been a rethink for many people from urban areas to the countryside, to reap the benefits of outside space, tranquillity and access to lovely areas for walking and cycling. Some buyers are from within the region while the majority are coming from other parts of the UK. Most of them will rent for a few months or a year and then buy a home. They are motivated to buy here due to the lifestyle on offer and the favourable price differential compared with other parts of the country.”
More Positive News
This all adds up to even more positive news for the Scottish property market. Rural living is certainly becoming very popular and there are lots of lovely scenic places to choose from. As ever, doing in depth research is the key to success. Galbraith of course, is one of the largest agents operating in the lettings sector in the north of England and Scotland, with expertise in 14 regions. This really is the time to look for that new lifestyle in Scotland’s wonderful countryside.