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Buoyant Sales Reinforce Dumfries & Galloway Property Market

Covering the fourth quarter of 2018, ending 31st December the firm reports that property sales in Dumfries and Galloway were relatively buoyant in the context of previous years’ activity for the same period.

The total number of property sales completed by Galbraith in Castle Douglas over the three months of October to December 2018 rose by 35% in comparison to the previous three and were also up 35% year on year. The team in Castle Douglas also brought more properties to the market during this period, up 5% on the same quarter of 2017. 

The number of property viewings increased by 12% year on year and property registrations increased by 59% on the previous quarter of 2018 and up 84% on the same period of 2017. Increased buyer activity has also continued with the number of prospective buyers registering with Galbraith in Castle Douglas increasing by 38% in comparison to the previous three months of 2018.  

David Corrie, who leads the firm’s Castle Douglas office, said:

These figures reinforce the continuing trend towards a return to normality in the Dumfries & Galloway market. There has been a real willingness for buyers and sellers to transact property in the area, driven by continued modest values when compared to other parts of the UK and the attraction of Dumfries & Galloway with its lower population density and attractive scenery.

The average price achieved for properties sold by the firm in the area was £424,500, up significantly from £309,000 during the preceding quarter of the year and the time taken to sell reduced significantly compared to last year. 

53% of buyers this period were from the rest of the UK with 42% being Scottish and the remaining 5% being international buyers. 

Galbraith is Scotland’s leading independent property consultancy with a network of eleven offices throughout Scotland. The firm enjoyed revenue growth of 8% during 2018 and profits rose by £84,000 to £2.3m. On average the firm handles £54 million worth of property sales per quarter for Scotland as a whole.