Ayrshire Property Market Holding Firm
The Ayrshire property market is holding steady and is experiencing an increase in the supply of high quality housing coming to the market.
During the second quarter, ending 30 June 2017, the Ayr office recorded an increase of 58% in properties coming on the market, compared with the previous quarter. This was also an increase of 30% compared with the same quarter in 2016.
Bob Cherry, a partner with Galbraith, said:
We have been pleased to see an increase in instructions and buyers are relatively confident, particularly for properties priced between £250,000 and £400,000.
Country houses with nice views, land or equestrian facilities are particularly desirable. Smallholdings with up to 30 acres of land are also sought-after and any which come on the market will often sell very quickly. Galbraith is a national firm with eleven regional offices and we are in a good position for those looking for maximum exposure when bringing a property to the market.
Recently, the Ayr office sold Lochingerroch Farm at a closing date for 27% above the asking price, with eight buyers competing to obtain the farm. Mr Cherry continued:
We have noticed an increase in buyers in Ayrshire coming from England, which may be due in part to the price differential between property in England and Scotland. For those who have just sold a property in Yorkshire, for example, they have often built up equity and this means property in Ayrshire may be relatively affordable for them.
Across Scotland as a whole Galbraith has seen a healthy 10% increase in sales for the quarter ending 30 June 2017, compared to the same period in 2016. The firm handled over £42 million worth of property sales over the past quarter alone.
Currently on the market with Galbraith in Ayrshire is Drumfork Farm. A productive commercial dairy farm in good order and in an accessible location, it has a three-bedroom farmhouse and a range of modern and traditional farm buildings. Offers over £1 million.