Those in the know have been snapping up beautiful homes on the Argyll coast since the 19th century. In Victorian summertime the waterside villages and towns swelled with affluent Glaswegian holidaymakers who would stay in west coast holiday homes, capitalising on sea views, fresh air and proximity to the city.
Fast-forward 150 years and not much has changed. Between then and now, however, the market has not been so buoyant. Economic difficulties faced by key Argyll towns produced a slowdown in buying activity at the turn of the millennium, as traffic issues and an exodus of quality shops and businesses in places such as Helensburgh took their toll on the property market, with outlying villages suffering a ripple effect. Now there are signs that things are are on the up once more.
Lured by a dip in prices, a new influx of buyers has been attracted to these historic hotspots. According to the latest data from the Registers of Scotland (RoS), transactions in the region have increased by 8 per cent in the past 12 months, more than double the Scottish average of 3.4 per cent.
“Argyll’s towns and villages, such as Rhu and Helensburgh, are drawing swathes of Glasgow commuters looking for homes within easy access of the city,” says Malcolm Leslie of Strutt & Parker’s Edinburgh office. “It is also a magnet for those prioritising a lifestyle change, mostly on the water’s edge. Buyers are predominantly from south of the border and they are searching for the rural dream. They want a spot in the countryside; they are not looking for towns and villages.”
Struck by the craggy coastline, the Loch Lomond and the Trossachs National Park, and temperatures affected by the Gulf Stream, holidaymakers find Argyll can get under the skin. Less than an hour from Glasgow city centre the urban sprawl gives way to water-steeped landscapes with idyllic whitewashed properties, and palm trees on the fringes of the mainland.
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What’s more, Argyll’s coastline acts as a gateway to 23 islands, including Bute, Great Cumbrae and Arran, each with a distinctive flavour of the region.
It seems unsurprising that rising numbers of homeowners seeking accessible rural life are falling back in love with the hotspots, but buyers are torn by where they should settle.
According to Carl Warden of Bell Ingram, the estate agency, buyers looking for holiday homes flock to locations such as Rhu, Rosneath and Kilcreggan — the famous Victorian stomping grounds — despite being drawn to property in the wilder north or west of the area. There, the journey from Glasgow takes more than two hours, so locations such as Lochgilphead prove popular with those in pursuit of a lifestyle shift who do not need to commute. Despite a tricky period after the Scottish referendum, Warden says activity has strengthened in line with the RoS findings.
“Typically buyers are retirees or those looking for a second home,” he says. “If you look at Lochgilphead, the hospital is a draw for those who want to move west and work locally. Other places, such as Rhu or Rosneath, have holiday home appeal because they are within striking distance of Glasgow. Sales have increased in the past year as people are becoming immune to taxation and political changes.”
While at least 25 per cent of Argyll homeowners are thought to be from England, a return of confidence from Scottish buyers can be attributed in part to the recent rise in transactions.
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Things are also looking healthy for property prices, with an increase of
3 per cent in a year. Unlike other commuter-friendly regions, such as Ayrshire, where prices and transactions have struggled to move out of negative figures in the past five years, Argyll’s profusion of tourism-related businesses and upmarket foodie offerings have bolstered its growing prosperity.
It also helps that there are plenty of conventionally attractive period homes for sale. Purchasers in Rosneath and Kilcreggan want water views, says Sarah Calderwood from McArthur Stanton Solicitors and estate agency.
“The main must-have for people moving to those villages are loch views, followed by commuting distance and affordability,” she adds. “The cost of a home is far more affordable on the peninsula. Rhu is popular as well, which I believe is to do with the community spirit and the primary school. Kilcreggan still has a passenger ferry running across to Gourock with onward train services to Glasgow and Edinburgh. It also has an award-winning butchers’ shop.”
Calderwood’s view encapsulates the crux of Argyll’s appeal — a sense of village life and reasonably priced property. Even in Helensburgh, one of the region’s most affluent towns, a four-bedroom period home can be purchased for about £100,000 less than Glasgow’s West End — and it comes with the all-important garden space that homes in the city lack.
In Rhu three-bedroom mews houses and flats formed from large traditional houses cost £190,000 to £220,000. In Kilcreggan the bulk of the market is focused on land for sale; here a 0.75-acre plot just west of the town costs about £75,000. Farther west, in Lochgilphead, former manses and whitewashed cottages can be bought for £250,000 to £500,000, depending on the work required and number of bedrooms.
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It is not just about value for money, however. The Rosneath peninsula, flanked by Loch Long and Gare Loch, is home to a number of well-heeled homeowners. Property there stands as a testament to the deep pockets of Glasgow exports during the 19th century and many bear the hallmarks of some of the country’s finest architects.
Last month Savills sold an Arts and Crafts home in Rosneath designed by Edwin Lutyens, with a private beach and sea loch frontage, and the estate agency also has a spacious Alexander “Greek” Thomson villa on its books. The five-bedroom home on the Isle of Bute is on sale for offers over £335,000. It is worth bearing in mind that a similar property in Glasgow or Edinburgh would cost at least double that price.