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Affordability Drives Ayrshire Property Market

An active Ayrshire property market saw the number of property sales completed during the prime selling period from July to September this year increase. 

During this period, sales completed by Galbraith in Ayr increased by 43% in comparison to the same quarter of 2017. Many sales were delayed earlier in the year due to the knock-on effect of a poor and prolonged winter and as such, sales increased threefold this quarter compared to the second quarter of this year. This has allowed the market to settle into a typical stable position for this time of year.  

For the quarter ending 30 September 2018, the average price achieved for properties sold by Galbraith in Ayrshire during this period was £364,571, up from £251,086 for the same period in 2017.

Bob Cherry, who leads the residential sales team for Galbraith in Ayr, said: 

The number of property sales completed this quarter is a good indication of a dynamic market for this time of year before we embark upon the slower winter months. Buyers are extremely active with our agents conducting 26% more property viewings this quarter and  15% more as a year on year comparison. The number of prospective buyers registering with us this quarter rose by 34% compared to last year.  

Unlike the south where the property market is facing a slowdown in sales and falling or static house prices, sales in Ayrshire and Scotland as a whole have been strong this year. In addition, house prices have remained constant or have shown modest rises over the past few years.  This means that, while properties are still very affordable in Ayrshire in comparison to other parts of the UK, there is the potential for house price growth in the short to medium term, resulting in a buoyant Ayrshire property market with many families moving from Glasgow and English buyers attracted to the area. 

Country cottages and houses in the £250,000 to £400,000 bracket with a bit of land sell very well and many sales are going to competitive closing dates.

Galbraith has a network of eleven offices throughout Scotland, handling residential property sales worth £54 million per quarter. The firm also manages and sells rural estates, farms, smallholdings and land. The Galbraith rural team provide advice on over three million acres of land throughout the country.