Highland Property Market Maintains National Appeal
Latest figures released by CKD Galbraith demonstrate that the Highlands remain a desirable place to live and to own a second home with interest from buyers across the UK.
Over the past year the firm’s Inverness office has experienced a steady growth in sales and a boost in national interest.
In the second quarter of 2016 (April – June) CKD Galbraith’s Inverness office experienced an increase property sales of over 50% compared to the same period of 2015. Viewings also rose in comparison to the first quarter of the year whilst the supply of property remained steady.
Phiddy Robertson, head of residential sales in CKD Galbraith’s Inverness office, said:
The Highlands remain an extremely popular area for those looking to find their dream rural home or a scenic holiday home, with properties on the West coast and within the Cairngorms National Park attracting the most interest.
The region holds strong appeal and buyers over the second quarter have come from across the UK with 67% of buyers being national and the remaining 33% of buyers coming from within the region. These figures demonstrate the market’s wide appeal and the quality of properties available in one of the country’s most spectacular regions.
During the same period, the Inverness lettings market also experienced high levels of demand and a significant increase in rental prices for family homes.
Flora Badger, CKD Galbraith’s lettings manager for the region, commented:
The lettings market across the Highlands has continued to face high demand and strong competition between prospective tenants for good quality homes to let. Most popular are three to four bedroom houses with good sized gardens or with land.
Properties such as this find suitable tenants extremely quickly with an increasing amount being successfully within just a few days of coming to the market.
Landlords in the region appear undeterred by recent changes in legislation and rental prices continue to rise as demand outweighs supply with average monthly rental prices increasing by 15% compared to the same period last year.
CKD Galbraith operates a network of regional offices located throughout the country and figures for the firm as a whole during the second quarter of 2016 demonstrate the resilience of the Scottish market and appeal to buyers from across the UK, despite the uncertainty of Brexit.
The firm has reported a 17% increase in the volume of sales achieved compared to the same period last year, with national buyers accounting for 41% of total sales, reflecting Scotland’s lifestyle appeal and more affordable property prices.