The Elite Ayrshire Business Circle

The Elite Ayrshire Business Circle

Wednesday, 13 April 2016

Demand rises modestly in Scottish housing market with prices continuing to grow

Demand for Scottish residential properties grew marginally last month as the number of properties coming on to the market continued to fall, according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey.

Activity in the Scottish housing market picked up in March, with a net balance of 26 percent of respondents reporting an increase in newly agreed sales. Demand for residential property also grew, although modestly, and continued to outpace new supply coming on to the market, pushing price expectations higher. A net balance of 23 percent more chartered surveyors expect Scottish house prices to rise over the next three months.

Across the UK, while expectations around the number of new houses sales peaked following the Chancellor’s Autumn Statement, this trend has reversed with 2 percent more respondents expecting to see the number of sales fall rather that rise over the coming months. Confidence around house price inflation has also dampened across the UK, with 17 percent of respondents (net balance) expecting to see prices rise over the next three months, compared to 44 percent (net balance) in December.

Director RICS in Scotland, Sarah Speirs commented: “As expected, we saw the final buy-to-let rush drive an increase in newly agreed sales last month and demand has now levelled off.  Again we are falling in to see a pick-up in new properties coming onto the Scottish market and, with the slight growth in demand, housing supply is still lagging behind

“Looking at the wider picture, there are other significant factors that are currently weakening short term confidence in the UK property market. Elections inevitably bring with them periods of uncertainty in the market, and our figures would suggest that next May’s Scottish elections are no exception.”

In the letting market, despite the increased rates of Land and Buildings Transaction Tax now expected to be paid by prospective landlords, rents– while expected to increase – are not predicted to rise any faster than it has in previous months.

Craig Henderson MRICS of Graham & Sibbald commented: “Many areas in Scotland have seen improving confidence through the early part of this year, with price growth seen with improving demand levels.”

Tuesday, 12 April 2016

Work underway on Troon Golf Clubhouse refurbishment

The ten month project to transform the Troon Golf Clubhouse is now underway. The work involves the refurbishment of the existing building alongside the introduction of an extension, both of which will help to guarantee the building remains an important part of South Ayrshire Council’s sporting portfolio.

[Pictured: Troon Golf Clubhouse – an artist’s impression of 
how the new clubhouse will look when it opens early in 2017.]

The £1.5 million project has been designed by Fleming Muir Architects, with the construction work being undertaken by Ayrshire firm, James Frew Limited. Work on the main phase of construction got underway on Monday 11 April, with the new facility due to open early in 2017.

The refurbishment programme involves the alteration, refurbishment, and extension of the existing clubhouse to provide updated facilities and includes: re-roofing, rot removal, replacement plumbing, glazed extensions, replacement glazing, a new kitchen, new floor finishes, and redecorating. External works include new steps, ramps and alterations to existing paving.

Donald Gillies, South Ayrshire Council’s Head of Property and Risk, said the project would provide golfers with a facility to be proud of. “This work will safeguard the long term future of this historic clubhouse and provide first-class facilities for the public.

“The contractors have been busy in recent weeks, with asbestos removed from the site meaning the existing building is now ready for the main phase of works to start.

“I’d like to thank people that use the course for their patience, and I’m sure that when the work is completed early next year they’ll agree that the short term inconvenience will be well worth the wait.”

A fully accessible temporary clubhouse was opened in January 2016. This provides facilities including a starter’s office, kitchen, cafĂ©, golf professional shop, club rooms, as well as male, female and disabled toilets. An external patio area has also been formed. A large external storage unit has also been provided which contains an electrical supply. The golf buggies are stored and charged in this unit when not in use.

South Ayrshire Council is a Founder Member of the Elite Ayrshire Business Circle.