The number of property sales completed by Galbraith in Stirling this period (Oct – Dec 2018) rose threefold in comparison to the previous three months of 2018 and were up 38% year on year. The team in Stirling also brought more properties to the market during this period, up 28% on the same quarter of the previous year. The number of viewings and market appraisals both increased threefold over the same period in comparison.
Jennifer Campbell, who heads up residential agency in Galbraith’s Stirling office, said:
The uncertainty from Brexit has certainly not been felt in Central Scotland. We continue to attract buyers from overseas and south of the border who recognise the value for money and lifestyle options on offer. From the Stirling office, we cover the whole of Central Scotland from West Lothian to the West Coast and the Islands. This broad stretch offers a varied choice of property though predominantly rural houses with land.
There continues to be demand from commuters from Stirling, Edinburgh and Glasgow willing to purchase further away from train and bus routes to tap into the rural way of life and enjoy Scotland’s outstanding natural offerings, escaping the rat race and seeking a more balanced way of life. Most properties of this nature also come with an outbuilding or two offering a great work-from-home options and potential additional income through holiday letting or short assured tenancies. We work hand in hand with our Stirling letting division providing choices to our registered buyers.
Another trend has been an increased demand for larger properties where investments have been made to provide efficient and environmentally friendly heating technology, thus reducing the running costs of a rural property. The energy performance of a property is an economical factor alongside the purchase price, Land and Buildings Transaction Tax (LBTT) and/or the Additional Dwelling Supplement (ADS).
Galbraith are the market leaders in selling properties with land and Jennifer’s department works with the National Farm Sales Team and Lettings division at Stirling Agricultural Centre to provide a fully comprehensive service. No other agent in Scotland sells more land than Galbraith.
Increased buyer activity has also continued with the number of prospective buyers registering with Galbraith in Stirling increasing by 46% in comparison to the third quarter of 2018.
The average price achieved for properties sold by the firm in the area was £536,492 and the time taken to sell reduced significantly this quarter compared to last quarter.
Jennifer Campbell, continued:
Our recent figures support the trend of it being a year-round market with buyers prepared to act quickly when the right property becomes available. Most of our purchasers are from within our database as registered tenants or buyers. It is far more than a database, these are vendors, buyers, landlords and tenants that we speak to on a daily basis and allows for a mutual discussion on market activity. This personal service enables us to match buyers to the right property. For the last three months we have witnessed greater competition between private and open market buyers. 60% of our properties have gone to closing date within six weeks of being launched and on average we have achieved 14% above the asking price.