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Improving Picture In Highland Property Market

Sales by the Galbraith Inverness office increased by 56% during 2018, compared with 2017. 

The firm also recorded a 57% increase in new prospective buyers registering to receive property alerts during the course of the year in the Highland region.

Phiddy Robertson, who leads the residential sales team in the Inverness office, said that confidence in the regional economy has returned almost to pre-2008 levels:

We are seeing good demand for well-located properties in Inverness-shire and there is sustained buyer activity. During 2018 we conducted 44% more property viewings than we had in the preceding year. The market is predominantly underpinned by local demand, with 62% of buyers coming from Scotland and 30% from the rest of the UK, with 8% being international. This shows the buoyancy of the regional economy and continued confidence in the future of the Highland region.

Inverness is regularly ranked as one of the best places in the UK to raise a family, helping to boost sales and sustain prices in the region.

Phiddy Robertson continued:

Buyers here can expect an excellent quality of life. Inverness has been transformed over the past ten years or so and property within commuting distance of Inverness continues to be in high demand. The other perennially sought-after areas are the Black Isle, coastal locations and areas within the Cairngorms National Park. The beauty of the scenery here is a major part of the attraction for house-hunters.

Our focus as a business is on the long-term. We have built close connections with community organisations over the past three years and this has sustained our growth as a business. We are pleased to be embedded in the local community, sponsoring the Highland Tennis League and offering support to Nairn Academy as part of its work experience schemes for 5th and 6th year students. These community links are a key part of our long-term approach.

Galbraith enjoyed revenue growth of 8% during 2018 and profits rose by £84,000 to £2.3m. Residential sales for Scotland as a whole rose by 10% for 2018 compared with 2017. On average the firm handles £54 million worth of property sales per quarter for Scotland as a whole.