The Inverness Property Market Continues To Thrive
Encouraging levels of activity in the Inverness residential property market show no sign of slowing down according to new statistics released by CKD Galbraith.
Following research conducted by the firm’s Inverness office, the second quarter of 2014 (April – June 2014) saw the number of property sales double since the previous quarter and the number of viewings by prospective buyers increase considerably over the same period.
CKD Galbraith Inverness statistics from quarter two of 2014 show:-
- Sales have doubled compared to the last quarter of this year
- Viewings up by 58 per cent this quarter against quarter one of 2014
- Buyers registered with the firm has also risen by more than four times compared to the first quarter of the year
- 36 per cent of buyers were locally based; 57 per cent were national buyers; 7 per cent were international buyers
Phiddy Robertson of CKD Galbraith’s Inverness office, said:
"The Scottish property market has been enjoying another successful period as demand continues to outstrip supply and particularly noticeable is a shortage of affordable, well presented family homes in the area. Our Inverness office has experienced a steady rate of growth having handled twice as many sales over the second quarter of the year, with viewings and offers also up considerably this period as buyer confidence remains high.
“Notably we are continuing to see a large proportion of buyers from south of the border purchasing property in the area who are being attracted to the comparable prices and lifestyle on offer in the highlands.”
CKD Galbraith’s Inverness lettings department have also experienced a successful second quarter.
Flora Badger, head of lettings for Inverness, said: “Similar to the property sales, demand is also outstripping supply for rental properties in the popular areas of Inverness. Viewings are up by 36 per cent compared to the same quarter last year and the number of applicant registrations has seen a dramatic increase compared to the first quarter of 2014.
“One to two bedroom town properties still remain extremely sought after and tenants face much competition from other applicants. I would recommend early viewings for all properties as the average time taken to let has dropped by around 20 days compared to the last quarter this year, with the shortest time taken to rent a property during the second quarter being only eight days!”
CKD Galbraith has enjoyed substantial growth over the years and operates a network of regional offices located throughout the country. The firm has recently celebrated the launch of its new office in Cults, Aberdeen.
If you are interested in selling or buying a property in the Highland region, please do not hesitate to get in touch with our Inverness estate agency team.