Railway Link Boosts Borders Property Sales
The firm’s offices in Kelso and Galashiels have recorded an increase of 55% in the number of properties sold in April to June 2017.
House sales in the Borders continue to show strong growth. The firm’s offices in Kelso and Galashiels have recorded an increase of 55% in the number of properties sold in April to June 2017, compared with the same period last year. Comparing the quarter ending 30 June with the preceding quarter, this is an increase of 53.5%.
Alex Inglis, head of residential sales for Galbraith at its Kelso office, said:
The Borders railway has noticeably boosted demand for properties in the Borders – particularly those within comfortable reach of Tweedbank and Galashiels. Many people are happy to commute for an hour by train to Edinburgh from Tweedbank station. In addition, property prices in Edinburgh are buoyant, which means that Borders house prices are relatively low by comparison.
Another possible factor driving the market is the number of people relocating from other parts of the UK. In the quarter just ended 64% of the Kelso office’s buyers were from other parts of the UK and 36% were from within Scotland.
This area has good schools and is a great place to bring up a family. It may be that people from the rest of the UK are choosing to live in the Borders for the family life.
Mr Inglis cautioned, however, that the LBTT property sales tax (which replaced stamp duty) is having an impact on sales of properties valued at £500,000 or above.
Across Scotland as a whole, Galbraith has seen a healthy 10% increase in sales for the quarter ending 30 June 2017, compared to the same period in 2016. The firm handled over £42 million worth of property sales over the past quarter alone.
Currently on the market through Galbraith are the following properties:
30 Belmont Place is a B-listed traditional end of terrace townhouse in the centre of Kelso, on the market for a Guide Price of £425,000.
Lauriston, Newlyn Road, Melrose, is a period, two storey, semi-detached house in an elevated position with outstanding views over the surrounding countryside. Offers Over £395,000.
Old Orchard Cottage, is a delightful detached cottage with equestrian facilities and approximately 4.2 acres of land. Guide price £398,000.