Independent property consultancy Galbraith reports strong performance in the Highland property market once again during 2022, with sales normalizing from the record high of 2021, but still up on pre-pandemic levels.
Buyer demand remains higher than the pre-pandemic level, with viewings up by 16.5 per cent and market appraisals conducted by Galbraith 36 per cent higher this year than in 2019.
The continued ability to work from home has contributed to an increasing number of people choosing to live in a rural area, which boosts the residential property market in the Highlands.
Phiddy Robertson, Head of Estate Agency for the Highlands said: “There has been continued very strong demand this year, with competition between buyers for the most desirable properties. We are still experiencing high demand for well-sited coastal property, which continues to sell quickly and comfortably in excess of the asking price. Views, water, solitude and an unspoilt setting are prized. The Highland region offers beautiful scenery and an excellent quality of life, while the ability to work from home has underpinned market activity.
“In the past few weeks buyers have become more considered in their approach and the number of homes being brought to the market has reduced. We expect the market to cool slightly next year, but since much of our demand is driven by a desire for a change of lifestyle, we believe this will be a slight adjustment rather than a significant fall.”
The number of applicants registering to buy with the firm is higher than in 2019 (the last ‘normal’ year before the pandemic) and the pipeline of new properties coming to the market is good for 2023, suggesting that buyers are motivated and most homeowners have the confidence to sell.
Galbraith handles an average of £218.8 million worth of residential property sales per year across all regions.
The firm is one of the largest and most long-established property consultancies in Scotland, with roots stretching back over a hundred years. Galbraith also has three offices in the north of England.
Properties sold by Galbraith in the Highland region this year include :
- Cantray House, near Croy, Inverness, Guide Price £1,200,000 – an exquisite, Palladian style country house with five reception rooms, six bedrooms and an integral one bedroom apartment. The formal gardens are complemented by a mature mixed woodland and single bank fishing on the River Nairn. The property has stables, and the plot extends to about 10 acres in all.
- Na Tri Stuadhan, near Poolewe, Wester Ross, Offers Over £675,000 - Na Tri Stuadhan was completed in 2020 and has beautifully appointed, semi-open plan accommodation designed to take advantage of the stunning views over Loch Ewe, the Isle of Ewe and the distant mountains. The property is highly energy efficient with solar panels, high levels of insulation and underfloor heating. The interior has high quality finishes throughout including solid oak internal doors, engineered oak flooring and Ashley Ann bathroom and kitchen fittings.