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High Levels of Activity in the Fife Property Market in 2021

High levels of activity have been registered in the Fife property market, as leading independent consultancy Galbraith publishes its end of year market review for 2021. 

The value of sales handled by Galbraith in Fife this year to date has totalled in excess of £25.5m, resulting in an average selling price of £454,545. 

Some exceptional premiums were paid for the most in-demand properties with one property achieving an agreed sales price of 42 per cent above the asking price.

Dominic Wedderburn, head of the estate agency team in Cupar, said: “The Fife property market has continued to show strong levels of activity throughout the year with demand for good family sized houses in the £400,000 - £500,000 price bracket driving sales.

“There has been a lack of stock as many buyers seek to upsize, a trend witnessed as a result of the pandemic. Some buyers have more disposable income as a result of holidaying abroad and leisure activities being curtailed over the past two years, together with interest rates having been low over the past year.

“A trend we have witnessed is that buyers, keen to purchase in Fife, have been looking further afield in areas that previously would not have been so popular. Again, this is as a result of lack of stock as well as many people still working from home and therefore the proximity to Edinburgh and correlating commute not being as much of a priority when deciding on their next move.

“Areas continuing to generate the most interest are St Andrews, Falkland, Newport-on-Tay and the East Neuk of Fife.”

Currently for sale with Galbraith in Fife:

The Woodlands Plot 3, Benvane Road, Glenrothes, Fixed Price £925,000

This is an exceptional new build property standing in a lovely mature setting at the foot of the Lomond Hills above Glenrothes and benefiting from high levels of privacy and seclusion. The property will enjoy spacious garden and grounds extending to about 0.89 acres and the accommodation will be well planned for contemporary living and built to extremely high standards.

 

Galbraith handles the sale of property valued at £55.4m on average per quarter. The firm has 13 offices across Scotland and the north of England and two-thirds of its property sales are to buyers registered with the firm.