Healthy Results And Improving Buyer Confidence In Inverness Property Market
The Inverness property market continues to show encouraging signs of activity.
CKD Galbraith’s Inverness office has conducted more property viewings over the second quarter of the year (period April- June 2015), with an increase in the number of prospective buyers registering with them.
Research conducted by CKD Galbraith over the Q2 period of 2015 presents an encouraging picture for the Scottish property market as a whole which has witnessed steady growth over the first half of 2015. The firm's overall sales were up 4.65% during quarter two of this year compared to the first quarter of 2015.
CKD Galbraith’s Inverness statistics from the second quarter show:
- 80% increase in property viewings this quarter compared to quarter one of 2015
- Increase in number of potential buyers registering with the firm – up 128% on the same quarter last year
- 57% of sales were completed by local buyers, 43% national
- Property sale values ranged from £190,000 to £545,000
Phiddy Robertson from our Inverness Estate Agency team said:
"The Inverness property market is continuing to show healthy results with our team handling a substantial increase in viewings and new potential buyers registering with us as buyer confidence has improved this quarter post-election. We have witnessed an increase in demand from local purchasers wishing to move up the property ladder which has provided momentum further up the change in the medium to higher end segments of the market."
CKD Galbraith's Inverness office is currently marketing No. 6 Heights of Woodside in the popular area of Westhill. The property provides a spacious family home with spectacular views to the Moray Firth and Black Isle. No. 6 Heights of Woodside is currently on the market for offers over £695,000.
The Inverness lettings department has also had a successful second quarter with a 40% increase in the number of properties let out this period compared to the first quarter of the year and 17% more properties becoming available.
Flora Badger, who manages CKD Galbraith lettings in Inverness, said:
"The number of lets successfully secured in the second quarter of this year has risen considerable compared to the previous quarter. We have also carried out more viewings and taken on more applicants seeking rental accommodation in the Inverness and Highlands. Competition remains strong for family sized properties and we have witnessed an increase in the number of national tenants renting property in the area which could be as a result of families moving into the area and professionals who wish to sample the region before committing to a full property purchase."
"We notice there is still a gap in the market of good quality smaller one and two bedroom properties in and around Inverness for people looking to afford to rent on their own. In Moray we have noticed in general a distinct lack of rentals which could be linked to the fact that tenancy lengths are extending. For a second year running we have seen a significant number of properties switch from the rental market and be transferred to the sales market which has meant an increase in competition for the available lets, and in turn could drive up the average rental price."