Galbraith reports intense competition between buyers with the majority of properties attracting multiple offers above the asking price. One property near St Andrews accepted an offer £200,000 in excess of the asking price. Another substantial property near Cupar attracted 13 competing offers. The shortest time taken for a property to secure an acceptable offer was just three days.
Dominic Wedderburn, head of residential agency for Fife said:
“Fife offers the perfect balance between a relaxed rural lifestyle and easy access to St Andrews and Edinburgh. Dundee is also an important centre for business and the arts with the esteemed V & A Dundee and Ninewells Hospital, a major employer in the region.
“Since the spring there has been a huge increase in demand for rural property in almost every part of Scotland as many people relocate from towns and cities. In Fife this trend is very much in evidence and we are fortunate that we can also offer proximity to Edinburgh and St Andrews, two of Scotland’s most beautiful historic centres. You can live in a completely idyllic, quiet village and still be in Edinburgh in an hour and a quarter.
“Prices in Fife are increasing, but rural property remains considerably less expensive than in St Andrews or Edinburgh itself, another major advantage for buyers. These factors combined with the advent of greater working from home have led to a huge increase in demand.”
The number of property viewings conducted by Galbraith in the third quarter increased by 38 per cent year on year, from 289 to 400, while the average time taken to sell reduced by 27 per cent, from 48 days to 35 days.
In Fife over the past quarter 74 per cent of buyers came from within Scotland, with 21 per cent from the rest of the UK and about 5 per cent from overseas. The average sale price for property marketed by the Galbraith office in Cupar this quarter was £395,000.
Galbraith has a network of thirteen offices across Scotland and northern England, handling residential property sales worth £51.7 million per quarter. The firm also manages and sells rural estates, farms, smallholdings and land. The Galbraith rural team provides advice on 3.5 million acres of land throughout the country.
Currently on the market through Galbraith in Fife:
11 High Street West, Anstruther, Fife. Offers Over £725,000
An outstanding coastal property dating from the 1600s, quietly positioned with stunning sea views, additional garden house offering further accommodation, and lovely garden in the popular fishing village of Anstruther in the heart of the East Neuk. Two reception rooms; four bedrooms. Lovely walled garden with summer house and sheltered terrace with sea view. Direct access to the Fife Coastal Path.
McDougall House, Beley Bridge, St. Andrews; Offers Over £850,000
Premium detached house in a lovely rural location only four miles from St Andrews. Three large reception rooms, four / five generous bedrooms. Sumptuous and spacious contemporary interiors with a particularly impressive kitchen. Wrap around, enclosed