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Moray Property Market Shows Continued Growth

Property consultancy Galbraith has published its sales figures for the second quarter, ending 30th June 2021. Moray has one of the strongest property markets in Scotland currently, with a significant increase in transactions and some notable prices achieved for the most desirable properties.

For Scotland as a whole, sales through Galbraith increased by 14.6% compared with pre-pandemic levels but in Moray, sales rose by 77.7% over the same period, demonstrating the strength of the market.

The average time taken to sell property in the region has fallen by 33% compared with the same quarter in 2019 as strong demand results in heightened interest and motivated buyers.

Rod Christie, who leads the residential sales team for Galbraith in Moray, said:

We are seeing very strong demand and continued consumer confidence in Moray. Sales have exceeded our expectations by a considerable margin and there has been active competition between buyers for well-located properties that have the features that appeal to the market. 

Prices continue to rise overall, particularly for modern properties in an accessible but rural location, which often attract more than one offer at a closing date. This is the case even for those valued in the mid-range and higher price bands.

One property that I had previously sold five years ago, was marked under off again last week for 31.8% more than in 2016. Buyers are exceptionally keen to secure a property that meets their criteria, in a scenic rural location.

Customers registering on the firm’s buyer database in Moray increased by 31.8%  compared with the preceding year, while the number of property viewings arranged by Galbraith in Moray fell by 12.8%  over the past quarter, as customers took advantage of virtual viewings and video tours.

Galbraith is Scotland’s leading independent property consultancy. The firm handles the sale of property valued at £55.4 million on average per quarter for Scotland as a whole.

Currently for sale through Galbraith in Elgin are properties including:

Camerorie, Grantown-on-Spey. Guide Price £455,000

A charming traditional farmhouse with four reception rooms including a bright and airy sitting room and a sunroom with wonderful views. Four bedrooms, three bathrooms, games room, studio and workshop. Lovely mature garden with stream and pond; total plot of 1.7 acres. Situated in a peaceful and secluded location with lovely outlooks, near Grantown-on -Spey.

Sandown House, Nairn. Guide Price £700,000 

An attractive and spacious home on the Western edge of Nairn. The property has nine bedrooms and two reception rooms arranged around a central courtyard, with the potential to run part of the house as a luxury B & B.