Median price at August 2008: £164,384

General increase since Sept 2007: 7%

Projected increase to Sept 2009: 2%

Five-year increase: 111% (£77,841)

Ten-year increase: 188% (£57,010)

The complete Angus price guide

Market view: In the past, we have claimed that Angus, the poor man’s Perthshire, has been an underrated county as far as property values are concerned. Certainly, Angus offers some of the best pound-for-pound value in Scotland in terms of amenities, location and quality of life. As our market moves to one where buyers, rather than sellers, dictate their terms, there is no doubt those who have finance available and are not in a chain are in an extremely strong position.

Superficially, prices are being maintained. Local expert Nadine Robertson, of Thorntons WS, says the true picture is being masked. In the uncertain market conditions many potential sellers are holding fire to see which way the wind blows in relation to mortgage finance, the stamp-duty holiday and home information packs.

Nonetheless, and despite fewer homes being marketed for sale in Angus, some local agents report that their stock for sale is as much as three times higher than last year. There is no question that homes are taking significantly longer to find a buyer, and that those people wanting to sell quickly are especially vulnerable to predatory bidders.

Robertson says: “Just as before, if prized houses come to market, they will sell well, but things are more sticky for the poorly presented homes in less good locations.

“For us, the speed of change this year following the Northern Rock debacle has been the biggest shock and has no doubt been exacerbated by media scare stories.”

As a result, the tone of Robertson’s advice to clients has changed. “If you can sell first before buying, you are in a strong position. We are back to the way things were in the late 1990s, actually a more stable marketplace. Buyers feel they can get on the ladder and prices bear some relationship to earnings. Some people still think they can sell high and snare a bargain as a buyer. That is unrealistic. However, what you lose on the snakes you should gain on the ladders, if you are selling to trade up in the same or a similar market. The vulnerable people are those forced into sales and moving to higher-value markets and possibly downsizers (although, they will probably have built up many years of equity in their property).”

It is definitely not all doom and gloom in Angus, but rather a period of adjustment to new market conditions. Opportunities are still present for both buyers and sellers. Agents report they are already seeing evidence of buy-to-let investors looking at one and two-bed flats again, so any potential first-time buyers should make their move sooner rather than later.

As elsewhere, the local experts say that mortgage finance (or lack of it) is the key to improved market conditions, with houses taking longer to sell, missives taking longer to sign and inevitably some sales falling through where buyers are caught in a chain.

As you would expect in the ideal county, planned retirement bungalows remain the most robust sector — especially as their mature buyers should largely be inured to the current market conditions. For sharp buyers, there are lots of competitive deals such as part-

exchange in the new-build sector. Going against the prevailing tide and buying a new home in Angus could prove to be a move that favours the brave — as long as they are well advised.

In the new world of estate agency in Angus, Robertson says that it is inevitable that the new conditions will sort the wheat from the chaff in her industry. “It is no longer the case that all you need to sell a house is an agent’s board in the garden. Client care and good advice are the keys to making sure that sellers’ expectations are attainable and in line with the current marketplace.”

According to HBOS, average prices in Angus have risen by 111% since 2003 and 188% over the last 10 years. There will be many people in the key Angus towns of Montrose, Forfar and Brechin who have seen the value of their family homes increase to almost three times what they paid 10 years ago. This offers some timely perspective on the current slowdown.

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