The Ayrshire Property Market is set for a Healthy 2015
CKD Galbraith believes the outlook is optimistic for 2015, following a successful year in 2014; with encouraging levels of activity in the property market throughout Scotland and a return to competitive bidding.
The fourth quarter of 2014 (October – December) saw property viewings and prices in Ayrshire continue to grow during the final quarter of 2014 according to new research conducted by the firm’s Ayr office. Despite the slowdown during the referendum the market bounced back in November and confidence returned along with English and international buyers.
CKD Galbraith’s Ayr statistics from the fourth quarter of 2014 show:
- Viewings have risen by 13% compared to the fourth quarter of 2013
- The average property price in Ayr rose to £272,000 in the final quarter, a £10,000 increase compared to average prices in the third quarter
- Property in the area has sold, on average, over two months quicker than the previous quarter
Bob Cherry, partner and head of residential in CKD Galbraith’s Ayr office, said:
“We are greatly encouraged by the level of buyer interest and activity throughout 2014, there was a period of uncertainty towards the end of August and the start of September which was expected. Buyer’s confidence was restored with the referendum results and November proved a good period to buy.
“Although we are very optimistic for the sector in 2015 we don’t foresee its growth as immune to the political and legislative changes set to take place, changes to stamp duty and the general elections will most certainly effect decisions over the coming six months.
“We’ve also seen an increase in closing dates set and competitive bidding with some properties going for well over the asking price. An example sale from the final quarter is Townhead of Gree, an attractive traditional house near Fenwick, which achieved 22.5% over the guide price of £400,000 with considerable interest and six offers in very short space of time.”
CKD Galbraith operates a network of regional offices located throughout the country and has enjoyed good growth over the last year. The firm as a whole experienced a 24% increase in the number of sales in the final quarter of 2014 compared to the third quarter. As well as the improvement in sales figures, there was also a 23% increase in the number of viewings against 2013’s figures for the final quarter.
Throughout 2014, CKD Galbraith handled property in excess of £375million covering property throughout the whole of Scotland. Prices achieved for all properties sold by the firm during 2014 were, on average 1.54% over the asking price, highlighting the firm’s unrivalled local knowledge of the market and expertise in setting prudent valuations.