Healthy & Steady Growth In Dumfries & Galloway Property Market As Region Continues to Appeal
The Dumfries and Galloway property market has continued to see healthy growth according to CKD Galbraith.
The office in Castle Douglas has reported an increase in the number of high quality houses coming to the market and property viewings during the third quarter (Q3 July to September 2015).
CKD Galbraith’s research shows a promising picture for the Dumfries and Galloway property market and for the Scottish market as a whole which experienced many changes during the first six months of 2015 including a new stamp duty system and the General Election. However, the third quarter’s figures for the Solway Coast reflect the growth and stability that the property market is now benefitting from.
CKD Galbraith’s Castle Douglas office statistics from the third quarter show:
- The number of properties on market increased by 21% compared to the previous quarter
- Property viewings rose by 28% compared to the second quarter of 2015
- The number of potential buyers registering with the firm’s Castle Douglas office increased by 33% compared to the same quarter last year
- 90% of buyers were national, 5% local and 5% international
- 80% of sales were completed by cash buyers
Grovehill House - Recently Sold by CKD Galbraith Castle Douglas
David Corrie, head of residential at CKD Galbraith’s Castle Douglas office, said:
The third business quarter of the year has seen an increase in both the demand and buyer interest in properties for sale in Dumfries and Galloway. The appeal of the region as a place to live is reflected in the increase we have seen in national buyers looking to move in to the area or purchase holiday homes.
We have seen a significant trend from cash buyers looking for good quality cottages and houses around the £300k mark, the Solway Coast is renowned for its mild climate and pretty coastal villages such as Kirkcudbright and New Abbey were property is particularly quick to sell and attracts high interest from buyer across the UK.
We have continued to agree sales well into the autumn and whilst we expect this to slow as we approach Christmas, demand for good rural property remains high. Realistic pricing remains key, but we have seen prices achieved much closer to, or at the asking price, with one closing date for a property with some land yielding 14 offers. Those considering selling should get in touch with our office in the coming weeks to make preparations, which are important to get right, early in readiness for the expected continuing demand into 2016.