Rising Demand For Homes In The Scottish Borders
The Scottish Borders property market has experienced another quarter of increased sales and buyer competition.
Since the reopening of the Borders railway the firm has recorded a steady rise in prospective buyer activity across the region, with particular interest in traditional rural property, especially with additional land.
During the third quarter of this year (July – September) CKD Galbraith’s Kelso office more than doubled their property sales compared to the previous quarter.
Property viewings have also risen by 52% compared to the last quarter whilst prospective buyer registrations with the Kelso office rose by 24%. There is strong appetite for high quality properties from national buyers looking to relocate to the popular commuter towns and villages. According to the firm’s Galashiels office 60% of buyers during the last quarter were from outwith the region and a high percentage of these were English buyers.
Alex Inglis, head of residential at CKD Galbraith’s Kelso Office, said:
The significant increase in activity within the Scottish Borders is unsurprising considering the beneficial impact the railway reopening has had on the Central Borders.
Despite the increase in demand, property prices have remained steady and as such the region currently offers excellent value for money. Properties around the £250,000 to £450,000 remain the most sought after.
The outdoor lifestyle of the Scottish Borders is a big attraction for families and young professionals hoping to get more for their money but still be within commuting distance of Edinburgh.
Demand for good quality well-maintained properties to let continues to outstrip supply across the region. We have witnessed a noticeable trend in prospective tenants taking their time to find the right property to rent with pricing and the appearance of properties remaining key to attracting suitable tenants.
CKD Galbraith operates a network of regional offices located throughout the country and figures for the firm as a whole during the third quarter of 2016 illustrates its ability to market and sell high quality houses drawing buyers from across the UK and beyond.
The firm has reported a 30% increase in the volume of sales achieved compared to the previous quarter of 2016. Local buyers from across Scotland accounted for 58% of sales during the third quarter, whilst 37% came from across the rest of the UK and 5% were international buyers.