The firm has agreed an above average number of sales in the past month in the region.
Dumfries & Galloway is the UK’s star performer for house price growth, with an average price increase of 2.4 per cent in the region between January and June, according to figures from Zoopla.
For Scotland as a whole, house price growth was 1.1 per cent over the six-month period, while the UK figure was 1.2 per cent.
David Corrie, Head of Estate Agency for Galbraith, said: “We are seeing good levels of activity and strong demand for rural property, particularly those in scenic locations and with land, or a good sized-garden. Properties that are correctly priced and offer a good rural lifestyle are typically selling well. In the past month our agents have agreed a higher than average volume of sales in Dumfries & Galloway, and well above the same period last year.
“Property in Dumfries & Galloway remains relatively inexpensive compared with many other parts of the country and the region offers idyllic coastal and rural scenery, attractive traditional villages and the opportunity to enjoy outdoor pursuits and achieve a better work-life balance. I always say that Dumfries & Galloway is like Cornwall, without the crowds.”
In the second quarter of 2024 (1 April to 30 June), property sold by Galbraith in the region achieved an average of 4.81 per cent over the asking price. The most in-demand properties are those close to the sea or with a sea view.
David Corrie continued: “The market has rebounded after a poor year in 2023, but that followed a period of exceptional activity in 2022 and 2021. The recent interest rate cut will provide a boost to first-time buyers , which then filters through to all sectors of the market. Broader economic factors, such as a rate of inflation that is more under control and a positive economic outlook, provide stability and reassurance to buyers.”
Galbraith recorded a significant annual increase in sales agreed during July 2024. For Scotland and the north of England combined, the value of sales agreed in July 2024 up by 71 per cent on the figure recorded in July 2023.