"Increased Activity and Momentum" in Perthshire Property Market
The Perthshire property market continues to show encouraging signs of activity according to CKD Galbraith’s Perth office.
They reported an increase in the volume of property sales and an increase in the average value of property sold during the final quarter of 2015 (Q4 Oct – Dec 2015) compared to the previous quarter as well as being up on the same quarter of 2014.
CKD Galbraith’s Perthshire statistics from the final quarter of 2015 (Q4 Oct - Dec 2015) show:
- Number of properties sold during this period more than doubled compared to the same quarter of 2014
- 22% more properties came to the market in comparison to the same period of 2014
- Number of viewings rose by 31% compared to the same quarter of 2014 and up 27% against Q3 of 2015
The increase in CKD Galbraith’s Perthshire property sales reflects the latest figures recorded by Registers of Scotland (report published 2 February) which outlined that from October to December 2015 Perth & Kinross sales increased by 19.3% in comparison to the same quarter the previous year.
Emma Chalmers, head of agency at CKD Galbraith’s Perth office, said:
The Perthshire property market has continued to show positive results throughout the final quarter of 2015 with our sales figures up in comparison to the previous year. Whilst October and November were quieter than normal, December was unusually busy with several sales agreed immediately before Christmas.
This increased activity has continued throughout January and February and we expect that momentum and the positivity in the Perthshire market to continue as we move into the spring and the better weather.
The rural Perthshire market is strong. Properties with a scenic location or with a large garden or paddock continue to attract good interest, competition from buyers and are selling at the expected price level.
The market has endured significant change in the last year with the introduction of LBTT (the replacement for stamp duty.) Whilst this re-adjustment has now begun to settle, this April will see the new 3% levy payable by purchasers of second homes come into effect. We wait to see the full detail of this scheme and what impact it will have on the Perthshire market.
Overall we are seeing an encouraging picture in Perthshire for the start of 2016. Our Perthshire agency team are speaking with a lot of potential sellers about bringing a wide variety of rural properties to the market and we could be in for a busy spring and summer of sales.
The latest Registers of Scotland report also outlined that from October to December 2015, the total volume of residential property sales in Scotland increased by 14.5% compared with the same period in the previous year. The average property price in the quarter was £167,734 an increase of 1.6% compared to the previous year.
CKD Galbraith operates a network of offices throughout Scotland and figures for the firm as a whole, over the same period, reflect this national trend with a 17% increase in the volume of sales achieved in comparison to the same period last year and the average value of property sold by the firm being £384,000, an increasing of 19.8% on the same quarter of 2014.