Dumfries and Galloway’s Property Sales Continue To Flourish
Property sales across Dumfries and Galloway have increased in the last three months, compared to the same period in 2015, according to CKD Galbraith, who are reporting strong demand from English buyers.
The firm’s Castle Douglas office has reported substantial interest from across the UK, with potential buyers viewing Scotland as an attractive place to live with property in the region representing excellent value for money.
During the second quarter of 2016 (April–June) the firm’s Castle Douglas office experienced double the number of property sales compared to the previous quarter and a 25% increase in the supply of high quality homes.
Prospective buyer activity also contributed towards a healthy property market in Dumfries and Galloway with property viewings up by an impressive 66% compared to the first quarter of the year and the number of prospective buyers registering with the Castle Douglas office increasing by 36% in comparison with the second quarter of 2015.
David Corrie, head of residential sales at CKD Galbraith’s Castle Douglas office, said:
Rural lifestyle properties in Dumfries and Galloway remain extremely sought after and we have continued to see English buyers in particular seeking homes across the region with national buyers accounting for 57% of our total sales this quarter.
Never before has there been such a difference in the value of property between some areas of rural Scotland and the south of England. Dumfries and Galloway is a beautiful part of Scotland that has a lot to offer buyers looking to upsize and find an idyllic rural retreat that might be unaffordable in other more populated areas of the UK.
The Dumfries and Galloway lettings market is also experiencing high levels of interest and activity from tenants seeking rural properties to rent and a taste of country living.
Marion Currie, CKD Galbraith’s lettings manager for the region, commented:
The lettings market in Dumfries and Galloway has, in recent months, experienced a steady level of growth and increased demand for good quality rural homes, ideally with small plots of land.
Tenants are typically looking for long-term homes rather than stop gaps and demand continues to outstrip supply across the region. Family homes in areas such as Castle Douglas and Kirkcudbright are particularly popular and can attract multiple offers.
It is predominantly locally-based prospective tenants who are the most active within the Dumfries and Galloway lettings market. So far this year, we are seeing more local families moving and upsizing within the area than tenants coming from further afield. However, the firm has also encountered increasing interest from prospective tenants south of the border looking to move to the area and willing to rent for up to a year until finding the right property to buy.
CKD Galbraith operates a network of regional offices located throughout the country and figures for the firm as a whole during the second quarter of 2016 demonstrate the resilience of the Scottish market and appeal to buyers from across the UK, despite the uncertainty of Brexit.
The firm has reported a 17% increase in the volume of sales achieved compared to the same period last year, with national buyers accounting for 41% of total sales, reflecting Scotland’s lifestyle appeal and more affordable property prices.