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The Moray Property Market Continues To Show Encouraging Signs

The Moray property market continues to show encouraging levels of activity according to new statistics released by CKD Galbraith.

Following research conducted by the firm's Elgin office, the first quarter of 2014 (Jan March 2014) saw property sales in the region rise by 35 per cent compared against the same period in 2013, as well as a significant rise since the last quarter in the number of viewings.

CKD Galbraith Elgin statistics from quarter one of 2014 show:-

  • Sales up by 35% when compared with the same period last year
  • Viewings have risen by 25% since the same period last year and increased slightly since the last quarter
  • The number of buyers registered with the Elgin office has increased by 24% against the same quarter of 2013

Rod Christie, partner and head of residential at CKD Galbraith's Elgin office, said: "Market confidence is continuing to grow year on year and we have seen increasing willingness from buyers to make their next move, with the number of agreed sales being up considerably compared to the same quarter of last year. With both viewings and the number of registered buyers also being up we are confident that the improving picture for the Moray market will continue throughout the year."

There were also encouraging signs in the Moray lettings sector.

Scott Holley, lettings manager at CKD Galbraith's Elgin office, said: "We have been greatly encouraged by our findings for the first quarter of this year, indicating continued strength in the Moray rental sector. There has been a significant increase in the number of people seeking a rental property in the area and of those showing interest being local people however, it must be noted that there is a great shortage of rental properties coming on to the market to meet demand."

CKD Galbraith has enjoyed substantial growth over the years and has continued to expand throughout Scotland with the recent opening of a new office in Aberdeen as well as expanding its presence in Argyll and the Isles having recently appointed a dedicated consultant in these regions. 

If you are interested in selling or buying a property in the Moray region, please do not hesitate to get in touch with our Elgin estate agency team.