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Dumfries & Galloway Property Market Remains Highly Competitive

Independent property consultancy, Galbraith has produced its latest quarterly residential report (1st April – 30th June) in what remains an extremely active time in the Dumfries & Galloway property market.  

The residential sales team in Castle Douglas has successfully completed 130%  more property sales this quarter compared to the same period in 2019, and 21% more properties have been sold this quarter compared to the first quarter of this year.  

A threefold increase in viewings with prospective purchasers was conducted by the Castle Douglas sales team over this quarter compared to the previous quarter of this year and 53 per cent more properties were brought to the market over the same period. 

Demand continues to outstrip supply, closing dates are set on many properties marketed through Galbraith in Dumfries & Galloway and as a result, prices achieved continue to exceed client and agency expectations. 

David Corrie, partner and head of the estate agency team in Castle Douglas, said: 

There seems to be no let-up in activity in the Dumfries & Galloway property market, which continues to operate at an exceptional level since the start of the pandemic. Having just completed an average year’s sales in a third of this year is testament to the current level of demand from prospective buyers. 

The pandemic accelerated those people who already had plans to make a move and enjoy a more rural way of life and we have not witnessed a reduction in this segment of the market, for those with finances in place. Sellers have also acknowledged the positivity in the market place and decided now is the time to make their next move. 

There was a 50/50 split in terms of where purchasers were coming from with half being Scottish, many coming from the Highlands and the Central Belt, with the rest relocating from south of the border including the Midlands and even further south. Areas witnessing a surge in popularity include rural Wigtownshire which has seen more activity over the past year than in any of the previous 10 years. 

David continues,

“Historically, property prices in Wigtownshire and the Mull of Galloway have been a few percentage points lower than areas in the central / east of the county but demand and strong competition have been driving up prices. These areas continue to offer great value for money in comparison to the rest of Scotland and present a fantastic quality of rural living. People are happy to live a bit further away from the central belt as many adopt a hybrid model of working from home or can be more flexible with the style of commute they can adopt.”   

Galbraith handles the sale of properties valued at £55.4 million on average per quarter across its network of 13 offices in Scotland and the north of England. 

Currently for sale through Galbraith in Castle Douglas:

Stonehouse Farm, Sorbie, Newton Stewart, Dumfries & Galloway, South West Scotland, Offers Over £650,000 – a wonderful small farm with traditional farmhouse and land with outbuildings extending to 72.18 acres.

River View Cottage, Kippford, Dalbeattie, Offers Over £625,000 – a beautifully presented family home with four bedrooms and four reception rooms, double garage and workshop. The property sits in extensive mature gardens and enjoying far reaching coastal views.