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Dumfries And Galloway Quarter 3 2013 Property Review

CONFIDENCE CONTINUES TO GROW IN DUMFRIES AND GALLOWAY PROPERTY MARKET

The Dumfries and Galloway property market continues to show encouraging levels of activity according to new statistics released by CKD Galbraith.

Following research conducted by the firm's Castle Douglas office, the quarter three period from July to September 2013 saw property sales rise from the previous quarter whilst viewings and the number of buyers registered with the firm grew significantly.

David Corrie
, associate in CKD Galbraith's Castle Douglas office, said: "Market confidence has been growing throughout the year and we have seen increasing willingness from buyers and sellers to make their next move. The statistics demonstrate an improving picture for the market and we forecast this is likely to continue into next year."

CKD Galbraith Castle Douglas statistics from quarter three show:-

  • Sales doubled from the Q2 2013 but static when compared against Q3 2012
  • Viewings up by 94% compared to Q3 2012 (and up against the previous quarter of this year)
  • Double the number of buyers registered with the firm compared with Q3 2012 and also up on the last quarter
  • 20% of buyers are locally based; 70% are national buyers; 10% are international buyers

CKD Galbraith's sales teams operating across the whole of Scotland handled in excess of 400million worth of property (2012/13 financial year) ranging from cottages and conversions to country houses, farms and estates.

David continued: ""There are buyers out there willing to purchase and across the year so far, we've seen an increase in viewings and registrations this year.  However, realistic pricing is still imperative in today's market. Those properties with prudent guide prices are the ones witnessing more activity.

"In and around the Dumfries and Galloway, we are seeing good levels of demand for coastal houses and high quality country cottages and smallholdings. We are encouraged by this activity, and on other property types as well, that demonstrates that the market is continuing to steadily improve."

There has also been a good level of activity in the Dumfries and Galloway lettings sector with results for the firm over quarter three of 2013 indicating continued growth in the market. The highlights include:

  • Double the number of properties let this quarter compared to Q3 of 2012 
  • An increase in the number of properties available for rent compared to the same quarter last year up 50%
  • Rental property viewings are up 50% on Q3 2012
  • Average rental price is 650pcm and the average time taken to rent out a property is 4-6 weeks
  • 50% of tenants are locally based and 50% are national tenants

Marion Currie, of CKD Galbraith's Castle Douglas office, said: "We are encouraged by our findings for quarter three of this year which show continued strength in the Dumfries and Galloway lettings sector with a significant increase in the number of people viewing rental property in the area.

"We have experienced an increase in demand for town flats particularly from young couples who may still be still struggling to get on the property ladder, as well as country cottages and farmhouses which have been of interest to older couples who are relocating whilst looking at the area with a view to buying."

CKD Galbraith Castle Douglas has recently launched local Facebook and Twitter pages providing followers with updates, news and information on the local residential property market. To be the first to know about new properties available for sale and to let in the area like and follow us at www.facebook.com/CKDGalbraithCastleDouglas and twitter.com/cd_ckdg