By Greg Russell
SCOTLAND’s housebuilding sector is performing well despite the economic and political pressures threatened by Brexit, according to one leading law firm which has been involved in the sales of nearly £148 million of new build plots in the past year.
Gillespie Macandrew’s housebuilding team – acting on behalf of three major builders – brokered almost 700 plot sales across 27 developments throughout Scotland between January and December last year, with house prices of between £112,892 and £470,991.
Current figures from the Scottish Government show 6953 private new build homes were built in the first half of 2017 (January-June), which represents a rise of 7.5 per cent compared to the same period in 2016.
The company is recognised as a leader in land and rural affairs and energy, and rebranded last September, consolidating its two previous brands – Gillespie Macandrew and Hunters Residential – into a single, modern brand.
It boasts offices in Edinburgh, Glasgow and Perth and reported an 8.4 per cent rise in turnover in the last year to £11.36m – its fifth successive year of growth and the biggest single-year increase in its history.
Along with the rising figures, the firm’s headcount has also grown from 95 employees to 123 in less than four years.
Harry Smith, head of housebuilder construction at Gillespie Macandrew, said: “The Scottish housebuilding sector is continuing to remain upbeat, despite uncertainties stemming from Brexit.
“The demand is there for house buyers looking to get on the first rung of the property ladder; take the next step in to owning a bigger home or even downsize. Investors too are keen to strengthen their property portfolios with buy-to-let investments.”
He added: “However, demand is greater than supply which is why ministers need to take stock and tackle Scotland’s chronic housing shortage.”
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