Researching Property Prices in Nairn

March 9, 2010 · Filed Under Business, Development, Nairn 

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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:

nairn-property-prices-1

nairn-property-prices

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:

highland-property-prices

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
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.

Comments

12 Responses to “Researching Property Prices in Nairn”

  1. Graeme Stein on March 17th, 2010 8:01 pm

    Has The Havelock changed hands ? As a long time visitor to Nairn this is one of my favourite pubs and I’d hate to see it undergoing too many changes.
    Is the current owner, Andy, I think, still in place or has he moved on?
    Any information much appreciated.

  2. Brian Turner on March 17th, 2010 8:05 pm

    The Havelock was listed as for sale, but I don’t know if it was sold or simply taken off the market – hopefully one of the regulars can answer for you, Graeme. :)

  3. Graeme Stein on March 17th, 2010 8:09 pm

    Thanks Brian. That’s what I call a speedy response! Keep up the good work on the blog. Between My Nairn and The Gurn I feel up to date with all the goings on in my favourite part of the world.
    Cheers.

  4. christine on March 21st, 2010 6:54 pm

    Hi This is really interesting to me as we are currently living in Canada but want to come back to Scotland and Nairn is where we want to be. I am monitoring the houses for sale in Nairn and wondered if you know if something is planned/happening on Waverley Road as there appears to be several houses for sale on it. I am concerned that there is something in the planning or another reason as to why there are several properties on the market on that road. Do you know of anything. Thanks again

  5. Brian Turner on March 21st, 2010 8:33 pm

    Hi Christine and welcome to MyNairn.com. :)

    I don’t believe there is anything significant planned for Waverley Road – the nearest event is the expanded town and county hospital, but the only impact I see that having is maybe slightly increased traffic through there.

    I’ve been watching the Nairn property market for a while, and noticed that a number of properties in that area have come up for sale in obvious need of modernisation over the past few years.

    Also, some of the B&B owners have been selling up across the town – not that many, but of course you will get a number of these in the west end villas.

    Personally speaking I don’t think there is anything adverse to be concerned about, with the caveat that some of the prices *may* be unrealistic.

    For example, a property like this:
    http://www.hspc.co.uk/2007/details.asp?id=40541

    is currently asking for offers over £325,000 – however, about 3 years ago they were going for offers over £250,000.

    Prices in Osprey Crescent have risen around 20% in the same period, so I would expect a comparable value to start in the region of £300,000, depending on condition of property and degree of modernisation required.

    Either way, for much of the Moray Coast market, properties are getting offers *under* or the same as the advertised “offers over” price.

    However, I’ve noticed the Nairn market being particularly stubborn when it comes to pricing, perhaps because of the very limited market, so while my personal view has been some properties are over-priced, people moving into the area seem prepared to pay them – probably because Nairn is comparatively cheaper and undervalued, I think, by comparison to the wider local area.

    Hope that helps. :)

  6. Christine on March 22nd, 2010 9:23 pm

    Thanks for the response and information. I really appreciate it.

  7. Gary on March 24th, 2010 8:36 am

    Hi Brian,Interesting to read that B&B Owners are selling up in and around Nairn. Are you able to give a reason for this, and with your own views? Best Regards, Gary

  8. Brian Turner on March 24th, 2010 9:39 am

    Hi Gary – I don’t think it’s a case of their being a big trend in B&B’s being sold in Nairn, as much as that some of the larger villas from Nairn’s west end – such as around Waverley Road – when they come up for sale, will inevitably include some proportion of B&B’s. Hence why it was mentioned in answer to the original question.

    I’m not seeing a rush to sell B&B’s in Nairn if that’s what you’re asking. :)

  9. Brian Turner on March 24th, 2010 9:46 am

    Hi Gary – I don’t think it’s a case of their being a big trend in B&B’s being sold in Nairn, as much as that some of the larger villas from Nairn’s west end – such as around Waverley Road – when they come up for sale, will inevitably include some proportion of B&B’s.

    I’m not seeing a rush to sell B&B’s in Nairn if that’s what you’re asking. :)

  10. Gary on March 24th, 2010 11:06 am

    Hi Brian, Thank you for the quick response. You are correct. This is what I was really asking as I am interested to find out if the Leisure and Hospitality trade is dying off, due to this present economic climate, up and around this part of Scotland? Regards, Gary

  11. anon on November 11th, 2010 1:47 am

    http://biztech.caledonianmercury.com/2010/11/10/scottish-house-prices-down-by-4-9/

    The above page shows a map giving Highland house prices dropping by 4.7% over the last month. Is this being reflected in Nairn?

  12. Brian Turner on November 11th, 2010 10:11 am

    Difficult to judge, but the market does feel very stagnant – and the inventory appears to be growing.

    Over the past couple of months alone, the number of pages for Nairn properties on Rightmove has grown from 2 to 4.