Property Auctions in Inverness, Scotland
The fact that it is Scotland’s fastest-growing city with a sharp increase in population of nearly 20% clearly illustrates the degree of interest in buying property in Inverness. Local property auctions in Inverness are busy and well attended.
Located on the mouth of the River Ness and close to the Moray Firth, the UK’s most northern city is the capital of the Scottish Highlands. The Highland Council have invested a great deal of money in improving the infrastructure of Inverness including a £9-million harbour expansion.
This, in turn, has attracted more visitors to the city including regular cruise ships. Although the local economy relies heavily on tourism, there are also job opportunities there in relatively new high-tech industries.
House prices in Inverness have grown the most of any other Scottish city and in the property market in Scotland. When it comes to finding property bargains in the highlands, especially with rural property in northern Scotland, attending a property auction in Inverness is a must.
Scottish property auctions:
- Property auctions in Scotland
- Glasgow property auctions
- Edinburgh property auctions
- Property auctions in Perth
- Dundee property auctions
- Property auctions in Aberdeen
Property prices in Inverness and surrounding areas
There are various property types in Inverness from 1-bedroom flat conversions to large detached houses with extensive grounds. On the outskirts of the city, you can also find stone-built villas, bungalows and rural country cottages.
Compared to other larger Scottish cities and the general property market in the UK, Inverness is much cheaper. Property for sale in Inverness tends to fall into the following house price brackets:
- Flat – £90,000-£135,000
- Terraced house – £152,000-£160,000
- Semi-detached house – £180,000-£200,000
- Detached house – £285,000-£320,000
- Detached house (5+ beds) – £440,000-£465,000
You should be aware of local competition at any Inverness auction house as fierce bidding means almost no house or flat sells for the property guide price in the auctioneers catalogue.
Villages nearby such as Fortrose, Culloden and Beauly are significantly cheaper than Inverness itself and many of these surrounding villages have properties for sale at property auctions in Inverness.
Property auctions in Inverness FAQ
How can I find property auctions in Inverness?
Property auctions in Inverness are held by local auctioneers nearly every month and you can find out about houses sold at auction from local newspapers, the auctioneers’ websites or by ordering a copy of the Inverness auction catalogue.
How much are auction properties in Inverness?
An auction property in Inverness costs an average of £146,000. However, the age, size and condition of the property can either increase or decrease this amount. Prices at local property auctions in Inverness are also dictated by the number of potential bidders in attendance.
Which areas are best to find cheaper property in Inverness?
Apart from the city of Inverness itself, nearby villages like Culloden, Westhill and Fortrose are alternative places to look if you wish to relocate to the Inverness area. Local property prices vary greatly depending on your location, so the outskirts of the city offer the cheapest properties in Inverness as well as surrounding villages.
Can I buy repossessed property at auction in Inverness?
Repossessed properties in Inverness are often sold at auction as it is considered the fairest and most transparent way to get the best possible price for a home or business. Ask for a copy of the catalogue available from any local auction house in Inverness. You can also check with banks and finance companies if you are interested in repossessed property in Inverness.
Where should I look for auction properties in Inverness?
The city of Inverness has a population of nearly 90,000 inhabitants, many of whom have lived there for generations. For this reason, there are far fewer cheap properties put up for sale compared to other UK cities of a similar size. Therefore, we will also consider nearby towns and villages as viable alternatives when attending property auctions in Inverness.
Property in Inverness
The most expensive neighbourhood to buy property in Inverness is the Crown. Located in the heart of the city close to all the amenities, this area mainly consists of larger Victorian and Edwardian townhouses.
Some of these properties have been converted into flats but with many of their original features retained. There is a mixture of housing stock here including stone-built detached villas. A semi-detached villa in this area recently sold at a property auction in Inverness for £215,000.
A more modern neighbourhood is Holm to the south where flats start at £110,000. On the outskirts of the city is the hamlet of Clachnaharry. This former fishing village became part of Inverness as the city grew and features large Victorian properties as well as cottages and coastal properties.
Property in Westhill, Inverness
Located 3 miles from Inverness city centre, Westhill is a commuter village south of the Moray Firth. It is the ideal for potential buyers who want the peace and quiet of rural life but within easy reach of a good sized city.
The population of Westhill is just over 5,000 people and community bonds are strong. The price of property in Westhill is within the range of £211,000-£255,000. This is mostly for house sales since there are a limited number of flats in this area.
Property in Culloden
Culloden is located about 4 miles east of Inverness along the A96. This village has a population of about 4,000 people and relies heavily on tourism because of its proximity to the Culloden battlefield. It has some locally run independent shops, but most people travel into Inverness for their retail needs.
It has a limited number of older properties for sale as well as mainly 20th-century semi-detached, terraced houses and studio apartments. The price of property in Culloden starts from £90,000 for a 1-bedroom flat and goes up to £250,000+ for detached homes.
- Council tax in the highlands
- Visit Inverness
- Stamp Duty Calculator
- UK Mortgage Calculator
- Consent for listed buildings
Around 6 miles from Inverness is the town of Fortrose, located on the Moray Firth. It has a population of over 1,500 people and its facilities include a leisure centre and golf course.
Fortrose has a wide range of property types including large Georgian manor houses, old cottages, flats and farmhouse conversions on the outskirts of the town. A 2-bedroom terraced house for sale in Fortrose would cost around £150,000-£170,000 while villas (semi-detached) have asking prices of £240,000-£260,000.
Property in Beauly
Beauly is situated 10 miles west of Inverness on the banks of the River Beauly and has a population of nearly 1,500. The village is often used as a base for walking tours of the Highlands.
Beauly has a range of retail and entertainment facilities to cater for the tourist trade including restaurants and bars, many of which are located in and around the village square. Property prices in Beauly are cheaper than Inverness and range from £100,000-£340,000 depending on the property type. The range of buildings includes spacious Victorian villas, bungalows and new build homes.
Types of property auctions in Inverness
Buy-to-let property in Inverness
Considering the rapid price increases, it makes good financial sense to invest in properties in Inverness before they rise any further. A terraced or semi-detached house can be purchased in the city for £180,000-£200,000 and then be rented on the buy-to-let market.
Apart from the housing shortage for young professionals and families, part of the University of Highlands and Islands is located in Inverness and has over 6,000 students. This makes the local buy-to-let property market very appealing due to the limited number of properties available to rent in Inverness.
Buy To Let Resources:
- How to be a private landlord
- UK landlord advice
- Tenant background checks
- Tenancy agreement template word doc
Commercial property in Inverness
As the gateway to the Highlands, Inverness is often used as a base for tourists visiting major attractions such as Loch Ness, the Cairngorm mountains as well as the Moray coastline. About 4 million tourists stay overnight in the region every year so it makes sense to buy a guesthouse, B and B or small hotel.
There are many opportunities if you wish to work in the hospitality industry. The price of such assets at property auctions in Inverness depends on the number of beds, how many amenities it has and whether it has been awarded any stars by tourist organisations. Prices for a suitable bed and breakfast property in Inverness start at £270,000 (5-bed) and go up to nearly £1 million for a 10-bed guesthouse.
Due to the nature of this type of business, commercial properties for sale in Inverness such as B&B’s and guest houses draw a lot of interest with Inverness auction houses. However, actual sales can hinge on who is present at the property auction, so it is worth making a note of any unsold auction property and possibly making a further bid.
Retail properties for sale in Inverness
Apart from the 4 million overnight visitors to Inverness and the Highlands, another 2 million people come on a day trip every year. For this reason, buying retail space in Inverness would be another sound business plan.
This would need market research to find out what visitors typically spend their money on. The price of auction retail properties depends on their footage and location. the cost varies from £45,000 (in Fortrose) to £400,000+ in the centre of Inverness.
Future property auctions in Inverness
Whether you are interested in residential, commercial or retail property, Inverness and the surrounding area has a wide range of auction lots. Inverness is the ideal location for lovers of the great outdoors. You have the option to choose how far you want to be from civilisation.
From detached houses in the centre of Inverness to rural country retreats in the surrounding villages, you can be as isolated as you want. If you follow our advice on how to buy auction properties in Inverness, you can become one of these satisfied inhabitants who enjoy the mix of urban and rural lifestyles.
In order to stay ahead of potential competitors it is important you keep abreast of any future property auctions in Inverness. Stay in touch with auction houses in Inverness, make sure you are on their mailing list and keep an eye open for property in Inverness auctioned off by banks and finance companies.