There has been a significant increase in levels of activity in the Moray property market with the firm reporting an increase in the number of sales and a surge in property viewings conducted.
During the second quarter of 2016 (April June) CKD Galbraith's Elgin office registered a 33% increase in sales compared to the first quarter of the year and has witnessed a surge in viewings, increasing by 81%. The number of properties brought to the Moray market through CKD Galbraith has also increased and is up by 37% over the same period.
Rod Christie, head of residential sales in CKD Galbraith's Elgin office, said:
Moray remains an extremely popular area of Scotland offering prospective buyers the chance to attain their dream rural home at a fraction of the price compared to other parts of the UK.
Apart from being a great place to live, having a mild climate and a wide range of excellent recreational activities available on your doorstep, Moray also offers good value for money. It is possible to acquire a desirable family home, often with a reasonable area of land for less than 400,000. This great value can be put further into context by opening up the possibility for many prospective buyers of educating their children as day pupils at one of the country's top public schools, Gordonstoun, where Prince Charles was educated. The ability to combine having a beautiful home and top quality private education at a relatively affordable price is a real attraction for many would be buyers to the area.
Owing to the downturn in the oil industry, there has been a slight readjustment in the market in terms of a slowdown in buyers coming from the east however we have continued to see a healthy number of buyers moving locally as well as from across the UK seeking homes in the region, with national buyers accounting for 42% of our total sales this quarter.
We have been greatly encouraged by the positive level of activity in the market, especially the surge in viewings and the number of new properties coming onto the market and we expect these levels to convert into sales and competitive offers throughout the rest of the summer months.
CKD Galbraith operates a network of regional offices located throughout the country and figures for the firm as a whole during the second quarter of 2016 demonstrate the resilience of the Scottish market and appeal to buyers from across the UK, despite the uncertainty of Brexit.
The firm has reported a 17% increase in the volume of sales achieved compared to the same period last year, with national buyers accounting for 41% of total sales, reflecting Scotland's lifestyle appeal and more affordable property prices.