The Fife property market has continued to thrive after a healthy start to the year. Sales and buyer activity in the Fife region continue to grow year on year with high demand for good quality properties in prime village locations.
Research conducted by CKD Galbraith's Cupar office during the first quarter of the year (January March 2017) revealed that demand remained high over the traditionally quieter winter months and the supply of new properties rose by 19% compared to the previous quarter.
George Lorimer, head of residential sales at CKD Galbraith's Cupar office, said:
The Fife property market has shown no signs of losing momentum in 2017. Despite the upcoming general election demand has continued unabated, frequently outstripping the supply of new properties coming to the market. This is creating strong competition with property prices likely to continue rising over the coming months. Sellers thinking about moving during the summer are now in a prime position to achieve good offers so long as their properties are realistically priced.
During the first quarter of the year buyers have come from across the UK with 16% of buyers being national, 10% international and the remaining 74% of buyers coming from within the region during the first quarter.
Cupar's lettings department has also had a successful first quarter with demand also remaining high for all types of rental properties.
Geoff Laird-Portch, head of lettings at CKD Galbraith's Cupar office commented:
Demand continues to outstrip the supply of good quality properties to let in the region and it's a very strong and resilient market here. The number of property viewings conducted during the first quarter of the year rose by over two fold compared to the same period of 2016.
Houses or flats in good locations with convenient transport links remain high on most prospective tenant's wish lists. As we progress into a more heavily regulated lettings sector we fully expect to see a rise in the number of landlords seeking professional advice and assistance. CKD Galbraith's letting agents are all full accredited and offer excellent local knowledge coupled with unrivalled market experience.
CKD Galbraith operates a network of regional offices across Scotland and figures for the firm as a whole during the last quarter of 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.