Researching Property Prices in Nairn
I’ve been doing some research into property prices in Nairn over the past week, after finding Net House Prices actually provides sale price information on property without having to sign up.
What I found interesting is that there are a couple of properties on Osprey Crescent on the Lochloy development that have been sold four time each over the past seven years, which gives a snapshot of how property prices in Nairn have risen over the past few years.
Using data from the the Net House Price site, I set up the data in a spreadsheet and then graphed the results:
It’s not the best graph and doesn’t provide too much detail, not least because each line only has 4 data points – but it does at least track a general process of house prices specifically for Nairn, showing the acceleration and then slowing over the past few years.
There’s no detailed information for the local area I can find in official statistics – the nearest I can find is at the Registers of Scotland website, which provides property price information only for the Highlands in general.
Just out of interest, I’ve charted both the Highland and Moray property prices on a spreadsheet, and both follow a similar general trend:
Back in November I also took a snapshot of the property listed for sale in Nairn on the HSPC website, to get an idea of how the property market in Nairn is faring, namely because it has the biggest inventory for Nairn as opposed to Rightmove and the Nairn Property Centre.
What I found then was 73 properties listed for sale in Nairn and the immediate surrounding area for sale at the start of the month – now five months later, 32 of these have been sold, and 19 new properties listed.
The property market still appears very sluggish, but it’s not helped by the fact that some of the properties still listed do not carry home reports. Which means they must have been on the market for around 18 months, at least, without selling.
Others have moved agencies, switching between listings on HSPC or Rightmove.
Here’s the list, with the bolded properties as sold:
|Fixed £600,000 The Havelock House Hotel, Crescent Road NAIRN|
|Offers Over £600,000 Wellington Villa, 2 Wellington Road NAIRN|
|Offers Over £495,000 Glen Lyon Lodge, 19 Waverley Road NAIRN|
|Around £495,000 Edenglass, Tradespark Road NAIRN|
|Offers Over £475,000 The Westerlea Hotel, Inverness Road NAIRN|
|Offers Over £450,000 Sanhame House, Thurlow Road NAIRN|
|Offers Over £365,000 Druimkell Meadow, WESTER LOCHLOY NAIRN|
|Offers Over £360,000 Scuan House, EASTER GOLFORD MOYNESS AULDEARN|
|Offers Over £330,000 Meikle View, Little Braeside LETHEN NAIRN|
|Fixed £315,000 Proposed New Bungalow, Culcharry CAWDOR|
|Fixed £298,000 Smiddy House, GEDDES CAWDOR|
|Offers Over £295,000 22 Old Bar Road NAIRN|
|Offers Over £285,000 Maviston Farmhouse, LOCHLOY NAIRN|
|Fixed £285,000 Viewmount, 22 Queen Street NAIRN|
|Fixed £280,000 52 Sutor’s Park NAIRN|
|Offers Over £275,000 5 Bath Street NAIRN|
|Offers Over £275,000 Prenton, Marine Road NAIRN|
|Around £275,000 The Perch, Culcharry CAWDOR|
|Offers Over £270,000 3 Sutor’s Gate NAIRN|
|Offers Over £270,000 Rankeilour, Meikle Geddes CAWDOR|
|Offers Over £265,000 Allasdale, St Ninian Road NAIRN|
|Prices from £264,000 Montrose Avenue AULDEARN|
|Offers Over £245,000 1 Househill Drive NAIRN|
|Fixed £240,000 6 Rowan Place NAIRN|
|Offers Over £240,000 1a Duncan Drive NAIRN|
|Offers Over £235,000 59 Osprey Crescent NAIRN|
|Fixed £235,000 103 Osprey Crescent NAIRN|
|Offers Over £235,000 9 Broadley Place NAIRN|
|Offers Over £225,000 55 Osprey Crescent NAIRN|
|Fixed £225,000 Dornoch, Delnies Place NAIRN|
|Offers Over £225,000 Tynet, Lodgehill Road NAIRN|
|Offers Over £225,000 Nakuru, 36 River Park NAIRN|
|Fixed £223,000 Tejas, 2A Moss Side Drive NAIRN|
|Fixed £220,000 20 Grant Place FIRHALL NAIRN|
|Offers Over £205,000 62 Riverpark NAIRN|
|Fixed £205,000 5 Muircote Road NAIRN|
|Fixed £200,000 Conon House, Ardclach BELIVAT NAIRN|
|Offers Over £200,000 8D Millford Heights NAIRN|
|Offers Over £190,000 64 Merryton Crescent NAIRN|
|Offers Over £190,000 4 Washington Court, Viewfield Street NAIRN|
|Offers Over £190,000 11 High Street NAIRN|
|Offers Over £185,000 Maldron, 32 Lodgehill Park NAIRN|
|Fixed £175,000 Plot 1, Sandown Road NAIRN|
|Fixed £175,000 30 Table Road NAIRN|
|Fixed £173,000 32 Spires Crescent NAIRN|
|Around £167,950 7 Sandwood Drive NAIRN|
|Fixed £161,900 10 Lochloy Crescent NAIRN|
|Around Each £160,000 Plots 59A, 60A and 60B, Phase 2 Montrose Avenue AULDEARN|
|Fixed £160,000 Morvich, 1 Crescent Road NAIRN|
|Offers Over £160,000 4 Firthside Cottages, Albert Street NAIRN|
|Offers Over £160,000 127A High Street NAIRN|
|Fixed £150,000 Plot 2, Sandown Road NAIRN|
|Fixed £148,500 14 Firhall House, Firhall Drive NAIRN|
|Offers Over £145,000 5 Simpson Street FISHERTOWN NAIRN|
|Fixed £145,000 3 Blair Road TRADESPARK NAIRN|
|Offers Over £145,000 3 King Street NAIRN|
|Offers Over £145,000 3 Water Lane NAIRN|
|Fixed £139,500 36 Osprey Crescent NAIRN|
|Fixed £135,000 42 Shore Street NAIRN|
|Offers Over £135,000 5a Riverpark NAIRN|
|Offers Over £130,000 2 Gordon Street NAIRN|
|Offers Over £120,000 10 Clans Crescent NAIRN|
|Offers Over £120,000 8 Laing Gardens NAIRN|
|Offers Over £115,000 Bowling Green Cottage Site, Cawdor Village CAWDOR|
|Fixed £110,000 8 Belivat Terrace NAIRN|
|Around £105,000 4 Sydney Place NAIRN|
|Offers Over £105,000 10 Alton Bank TRADESPARK NAIRN|
|Offers Over £90,000 32a Harbour Street NAIRN|
|Offers Over £90,000 4 Boath Terrace AULDEARN|
|Around £86,000 13 Colin Young Place GORDON STREET NAIRN|
|Offers Over £80,000 121 High Street NAIRN|
|Around £79,000 7 Shore Street NAIRN|
|Offers Over £65,000 Plot of Ground, Moss Side Road NAIRN|
It’s clear that property prices across the UK are still over-valued in general, and there’s plenty of scope for prices to come falling down a lot further – the recent “rise” over 2009 could be easily attributed to a false rally we often see in stock markets before a big fall.
Economically, we’re still looking at a lot of major problems facing the UK – the recent fall in the value of the pound shows retreating investor confidence in UK debt. And globally, we still have the potential prospect of sovereign debt faults in the near future and more severe financial turmoil.
Even still, Nairn seems well positioned to weather a lot of any coming crises – a desirable place to live, property prices still relatively low compared to the surrounding area, and the limited availability of properties, all seem like buffer points that may keep prices from falling too far too fast if we do see the economy worsen.
Property prices in Nairn may have slowed a lot, along with the national trend, but I can’t find any immediate evidence of prices having fallen as yet – instead, the market slowing, and buyers seem to be avoiding properties that appear over-valued.
The hope is that in the event of any serious economic problems erupting in the near future, Nairn can weather these better than many major towns – I think the continued health of the high street is testament of this at least.
And in the event of property prices falling UK-wide, hopefully we’ll see Nairn house prices come down relatively gently and avoid the stark crash some parts of the UK have already seen.