The Inverness Property Market Maintains Momentum
Despite the uncertainty caused by the Scottish referendum during the summer months CKD Galbraith have released new statistics showing that the property market maintained momentum and buyer interest.
The third quarter of 2014 (July-September) saw property sales and letting figures in Inverness increase according to encouraging research conducted by the firm’s office on Old Edinburgh Road.
CKD Galbraith’s Inverness statistics from the third quarter of 2014 show:-
- Sales have increased by 7 per cent compared to the last quarter of this year and have increased by more than two-fold from the same quarter last year
- Viewings figures also rose up 42 per cent compared to the last quarter
- Buyers registered with the firm has also risen by 36 per cent since the second quarter of 2014
- The average time taken to sell property in Inverness has fallen by three months compared to the previous quarter
Phiddy Robertson of CKD Galbraith’s Inverness office, said:
“The market in the Highlands has been relatively quiet in the third quarter compared to the first half of the year but this was to be expected. Although there was a slight decrease in properties coming to market in the fortnight leading up to the 18th September there has been a considerable increase in viewings, offers and a return to closing dates this quarter.”
“We have experienced higher levels of interest from young professionals who are also seeking good quality property to buy and let in the region. The city is becoming increasingly attractive to young people with it’s accessible to and from the rest of UK and Europe improving. Flybe only recently announced expanding flight numbers and new routes to and from the city which will help to further enhance Inverness’ appeal.”
CKD Galbraith’s Inverness lettings department have also experienced a positive third quarter.
Flora Badger, head of lettings for Inverness, said: “The supply and demand of rental properties in Inverness has remained fairly steady throughout the third quarter of 2014 with a positive increase of 20 per cent in properties let against the figures for the same quarter in 2013. There has been an ongoing demand for good quality city centre properties but supply has remained relatively fixed compared to the first half of the year.”
CKD Galbraith operates a network of regional offices located throughout the country and has enjoyed good growth over the last year which it expects to continue into the final quarter of 2014.
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.