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Ayrshire Property Market Exceptionally Strong In First Quarter

Leading rural property consultancy Galbraith has published exceptional sales data for Ayrshire during the first quarter of 2021. For the three-month period ending 31st March, the value of sales increased by 70% year-on-year from £4.83m to £8.21m, a testament to the renewed desire for rural property and interest in Ayrshire.

Jake Shaw-Tan, of the Galbraith residential agency team in Ayr said:

The demand for rural property in Ayrshire continues to be very high, accompanied by a restricted supply.  Buyers typically have to act extremely quickly and make a good offer when they find a suitable property, or in many cases they are faced with competitive bids at a closing date. 

In Ayrshire the market is more active than it has been at any time over the past decade.

Recent sales in Ayrshire that demonstrate the strength of demand include a traditional three-bedroom cottage, in an accessible location. The property was advertised to Galbraith’s database of buyers and secured 12 viewings on the first day of marketing. Within 24 hours, a cash offer of 10%  above the Home Report value was accepted by the vendor. 

The owners of an Edwardian Arts & Crafts house in Ayr, priced at offers over £575,000, accepted a good offer after just 12 days on the market.

Jake Shaw-Tan continued:

Buyers are very motivated, particularly in the rural and premium sectors and average prices are rising. I would say that property in Ayrshire has been under-valued for many years, compared with the rest of the UK, but the advantages of living here are numerous. Ayrshire has a stunning coastline with wide-ranging opportunities for sailing and water sports, beautiful countryside with numerous walking and cycling routes and bridle paths, championship golf courses at Royal Troon and Turnberry along with the convenience of close proximity to Glasgow and the central belt. It seems likely that prices here will catch up with other scenic areas in Scotland and the rest of the UK.

Galbraith handles residential property sales of £55m per quarter on average in Scotland and the north of England. The average price of property sold by Galbraith in 2020 was 11% higher than the preceding year.

Currently on the market through Galbraith in Ayrshire is House Of Craigie, a superb Georgian country house once owned by the Duke of Portland. The property has five luxury one-bedroom cottages which would be well-suited to short-term lets. The main house has an indoor swimming pool, four impressive reception rooms, four bathrooms and eight bedrooms. The land extends to about seven acres, with lovely landscaped gardens next to the house, an all-weather tennis court, an Edwardian peach house and grazing paddocks of about 4.5 acres.

The property is for sale for offers over £1,550,000.