Good Movement In The Scottish Property Market
CKD Galbraith supports the findings of today’s Registers of Scotland’s quarterly housing price statistics report (January – March 2015) and can report a successful quarter with an increasing number of national and international buyers choosing to purchase property in Scotland and a steady rise in the overall volume of sales achieved compared to the same period in 2015.
The Registers of Scotland reported that from January to March 2016, the volume of residential property sales in Scotland increased by 18.2% compared with the same period in the previous year. The total value of sales across Scotland registered in the quarter increased by 8.3% compared to the previous year to just over £3.15 billion.
CKD Galbraith’s sales figures over the same period generally reflect this national trend with a 29% increase in the volume of sales achieved in comparison to the same period last year. The average value of property sold by the firm was £422,000, an increase of 9% on the final quarter of 2015.
The firm is also reporting a significant level of movement across the UK with 57% of buyers coming from within Scotland, 36% of buyers coming from across the rest of the UK and the remaining 7% representing international buyers.
Simon Brown, partner and head of residential sales at CKD Galbraith, said:
There is little doubt that we are continuing to see a resurgence in the Scottish property market, and the national figures from Registers of Scotland reflect CKD Galbraith’s own statistics across the country.
We have experienced a number of trends in recent months, with rural homes proving particularly popular - especially when there is land to accompany the property. We are seeing hotspots in Fife, the Borders and Ayrshire as buyers look to get more for their money whilst remaining within easy commuting distance to towns and to Edinburgh and Glasgow.
There has also been a notable increase in national and international buyers, which is a reflection of the wide appeal of the Scottish property market. However, accurate regional pricing remains key and with this in mind, we are optimistic for the rest of 2016.