February, 2015
2015 has got off to a flying start and we are delighted to report that traffic through the CCL website and subsequent enquiries is up 160% on the same period last year. People searching for businesses for sale are using tablets and smart phones more and more. Approximately 35% of enquiries are now received via this method; as you may be aware we have invested heavily to make sure that our own website, and all the business that we advertise, are fully compatible with all mobile sites.
Over the last 12 months the UK’s economy has continued to improve with lower unemployment, lower inflation and higher growth than many had forecast. Yet there remains a sense of fragility, due in part to the much poorer economic performance of the major developed economies of the EU and Japan. There is also some uncertainty of the forthcoming General Election in May, devolution of more powers to Scotland and the wider international uncertainty of the impact from lower oil prices and continuing tension both in the Middle East and between Russia and its neighbours. Having said all that demand for good quality businesses in Scotland remains strong.
Accessing appropriate sources of borrowing remains a challenge for new buyers. Since the credit crunch banks have significantly tightened up on their lending criteria. In general terms we have seen Borrowers requiring higher deposits and banks only considering applicants who have appropriate and relevant sector experience. We have a partnership with an experienced form of commercial finance brokers and all our buyers who require funding are introduced. Their success rate at sourcing funding is excellent.
There is so much information available to applicants online that the number of viewings per property has decreased. People have immediate access to your business via sources such as our website, your website, Facebook, Trip Advisor, Google Maps and Street View. Amenities data can be checked out along with educational and recreational facilities. There is so much data that often applicants do not need to view a property to see if it is suitable. Although viewing figures may be down overall the quality of the viewings has improved. This is why it is so important that your business is marketed in the best manner so that we achieve a Click Through Rate (CTR) higher than average. On Zoopla and Rightmove ouraverage CTR is well above industry standards.
We actively use Social Media to promote our clients and are now delighted to announce that CCL are now in the Zoopla Top 100 Social Media Influencers. If you use Facebook or Twitter then we would encourage you to like or follow our page. We have the ability to post your sales particulars and would then ask you to share with your connections. Our Facebook account is www.facebook.com/CCLsales and our Twitter account is @CCLProperty. Again please contact us if you would like any further details.
On April 1st Revenue Scotland comes in to effect and Scotland will have a separate Land and Building Transaction Tax (LBTT) (formerly Stamp Duty) to the rest of UK. A new system has been introduced by the Chancellor which at present makes it cheaper in Scotland to purchase a property up to £935,000; from April 1st this figure will reduce to £345,000. The following table illustrates the impact of the current and new system:
| House Price | Stamp Duty (£)* | Original Scottish Land and Building Transaction Tax (£) | New LBTT (£) |
| £100,000 | 0 | 0 | 0 |
| £150,000 | 500 | 300 | 100 |
| £200,000 | 1500 | 1300 | 1100 |
| £250,000 | 2500 | 2300 | 2100 |
| £300,000 | 5000 | 7300 | 4600 |
| £350,000 | 7500 | 12,300 | 8350 |
| £400,000 | 10,000 | 17,300 | 13,350 |
| £450,000 | 12,500 | 22,300 | 18,350 |
| £500,000 | 15,000 | 27,300 | 23,350 |
| £600,000 | 20,000 | 37,300 | 33,350 |
| £700,000 | 25,000 | 47,300 | 43,350 |
| £800,000 | 30,000 | 57,300 | 54,350 |
| £900,000 | 35,000 | 67,300 | 66,350 |
| £1m | 43,750 | 77,300 | 78,350 |
| *(applies in Scotland until April) |
Finally I would like to thank all our clients for their support and for the views and feedback that have been provided. This is very important and helps us to develop and refine the products and services that we provide to our clients.
From us all at CCL we would like to wish you a prosperous and successful 2015.
