The high level of demand for all property types in the Scottish Borders continues unabated. Consequently, sales conducted by the Galashiels office have increased threefold over the first three months of the year in comparison to the same quarter of 2016, with property viewings also significantly higher. Prospective buyer registrations in Kelso were also up 22% this period in comparison to the previous quarter.
Alex Inglis, head of residential sales at the Galbraith Kelso office, said:
Property prices in the Scottish Borders remain competitive and we attract a healthy mix of local, Edinburgh and English based buyers. The rural, yet accessible, lifestyle has been enhanced by the reinstatement of the popular Borders rail link with Edinburgh.
Demand is particularly strong for pretty, and well located, rural cottages ideally with an additional paddock. However, sensible pricing remains vital to achieving a successful sale. Overall I would encourage anyone considering selling to do so now as demand is currently good.
Galbraith operates a network of regional offices across Scotland and figures for the firm as a whole during the previous quarter (January March 2017) show a rise in sales of 7% compared to the same period in 2016, with 19% more properties being brought to the open market and 49% more applicant registrations. This activity equated to 47 million worth of property sales being handled by the firm over the past quarter alone.
The Galbraith lettings department in Galashiels has also had a successful first quarter. The team let out 24% more properties over the first three months of 2017 in comparison to the previous quarter, brought 44% more properties to the lettings market, conducted 72% more viewings and had 17% more prospective tenants registering with them.
Susan Watson, lettings manager at the Galbraith office in Galashiels, commented:
We are witnessing a healthy lettings market in the Borders where demand remains high across all property types especially for properties in the settlements of Galashiels and Tweedbank. In particularly high demand are three to four bedroom houses which we have been successfully letting within days. The number of managed properties on our books has increased significantly over the previous quarter and we have let out more properties to well matched tenants.
The Borders lettings market is driven by local demand and this continues to exceed the supply of good quality rental properties. Therefore, anyone considering becoming a landlord or growing their lettings portfolio in the Scottish Borders should think about it now as the market is active and average rent levels look set to rise further as a result of low stock.