Property In Dumfries & Galloway In Demand For Lifestyle And Affordability Factors
The Dumfries and Galloway property market continues to prosper according to latest figures released by the Galbraith Castle Douglas office.
The figures show a rise of 21% in properties sold during the period compared with the same quarter in the preceding year. There was also a year-on-year increase of 19% in new customers registering as buyers with the firm.
David Corrie, who leads the firm’s residential sales team in the Castle Douglas office said:
The fourth quarter of 2017 was a much busier period than is usual. There are two main reasons for this. Firstly, we are seeing a return to normal market conditions, perhaps due to consumer confidence improving in the region and overall in the UK. Secondly, Dumfries & Galloway offers good value for money compared with other parts of the UK and other parts of Scotland. Prices in the central belt have risen but prices in Dumfries & Galloway have not increased considerably in recent years.
One of the most popular properties we sold was Craigencallie – a bothy which required modernization but was in an exceptionally beautiful setting -- which was viewed by 60 potential buyers, attracted a dozen offers and sold at closing date for a figure considerably over the asking price.
Castle Douglas and the coast are very popular areas due to the beauty of the scenery and the lifestyle on offer. Properties in these areas are priced at a premium to reflect considerable demand. The western side of Dumfries & Galloway tends to be more attractively priced, and the eastern side offers proximity to the M74 for access to Carlisle and Glasgow. It is possible to commute from Moffat and surrounding areas to Glasgow, in around 90 minutes.
We have seen an increase in the number of buyers coming to the area, predominantly they continue to be from the south (75% of buyers in this area are English), although we do have buyers from Scotland too, and some international and expat buyers. Many houses are bought as a holiday home and then these will become a permanent residence once retired.
In 2017 the Castle Douglas office sold over 60 properties, with an average price of around £300,000, with a total value of over £17 million. The highest value property was sold for over £700,000 and the lowest just £35,000 for a building plot in a coastal village. Galbraith has invested in the Castle Douglas office, with a relocation to larger and more prominent premises, combined with a complete refurbishment, with more space for a larger team.
Across Scotland as a whole, Galbraith has recorded a 20% increase in sales for the quarter ending 31 December 2017, compared to the same quarter of 2016. The firm handled property sales worth over £54 million for the fourth quarter.
Currently for sale through Galbraith from its Castle Douglas office are the following properties:
Craigneuk, Southwick, Nr Sandyhills, offers over £336,000
A contemporary detached two storey property in a quiet rural situation with fabulous views towards Mersehead Sands and the Solway beyond.
Moss Cottage, Moffat, guide price £280,000
A delightful extended cottage nestling in a beautiful rural situation, with spacious accommodation.