The prime property market around Dumfries and Galloway remains mixed but there are signs for optimism according to David Corrie of our Castle Douglas residential team.
We can report:
- An increase in the number of sales since this time last year up by 70% and also an increase of 70% from the first quarter of 2012.
- The number of potential buyers actively seeking property in Dumfries & Galloway remains steady throughout 2012.
- Of the purchasers who bought property in the second quarter of 2012, 20% were local; 75% were from wider Scotland and the UK; and 5% were international.
- The majority of purchases were for retirement.
David Corrie said:
"There has been much more movement in residential sales market for Dumfries & Galloway in 2012 compared to the same period last year.
"Sales by the CKD Galbraith office in the second quarter of the year are up 70% on the same period last year. We've received more instructions during this period too.
"There are serious buyers out there willing to purchase. Supply is down slightly and there still remains a shortage of farm land and large houses. Rural houses in the price range of 300,000-500,000 are very popular and selling well.
"We have been encouraged by the more positive interest we have witnessed recently for the first half of the year, and we are hopeful that this indicates a degree of confidence returning to the property market.
"Whilst the market is still sporadic in nature, with sales relying on the buyer's ability to raise funds, we are hopeful that as more capital is released by house sales in the North of England and the Midlands, this will be used to fund the majority of the purchases in Dumfries and Galloway in the coming months."
To find out more about property sales in the Dumfries and Galloway region - contact our Castle Douglas office.