Uncertainty over the future of RAF Leuchars is yet to have an impact on the local property market, experts have said.
In Moray home to closure-threatened RAF Lossiemouth sales have reportedly “crashed.” However, there are more positive signs for Fife homeowners, with property chiefs insisting the outlook is far less bleak in the region.
Figures published by the Registers of Scotland reveal that the number of properties sold in Moray has fallen by 23.5% the biggest drop in Scotland and nearly three times higher than the national average. In neighbouring Aberdeenshire sales fell by just 1.8%.
The slump has cost the region almost £15 million in property sales between October and December the quarter in which the coalition government announced details of swingeing defence cuts.
Fife Council has warned that the local economy will take a £60 million hit if Leuchars is forced to close. However, Fife has so far avoided the kind of devastation witnessed in Moray.
SNP defence spokesman Angus Robertson is warning of “huge economic and social damage” during the ongoing period of uncertainty in Moray and Fife.
He said, “The worrying statistics reported in Moray are a direct result of the way the UK government is mishandling the military basing review. The result of dithering is tangible damage to people and businesses. We need an early basing decision by the UK government and an immediate economic support package.”
Matthew Gray, property services director with Fife property agency Pagan Osborne, insists there are still reasons to be cheerful locally, saying there has been “no change” in the market as yet.
He told The Courier, “The Fife property market is not suffering to the extent Moray’s has in light of the threatened closure of RAF bases. Undoubtedly, RAF Leuchars is important to the local economy.
“However, Leuchars and the surrounding areas have many other interests which support the economy. The train station makes it an ideal commuter town and education, tourism and golf are all very strong in the neighbouring settlements.”
Mr Gray pointed out that even if the RAF does leave the site alternative uses could help to ensure the property market does not suffer.
He continued, “The Moray bases have been under threat for longer than Leuchars, therefore it is probably too early to say for certain what the impact might be.
He added, “To date, we have seen no change in the demand or valuations of properties in Leuchars.”