The Scottish Borders Property Market Continues To Thrive
Encouraging activity in the Scottish Border's residential property market shows no signs of slowing down according to new statistics released by CKD Galbraith.
Following research conducted by the firm’s Kelso and Peebles offices, the second quarter of 2014 (April – June 2014) saw property sales increase and a significant rise since last year’s second quarter in the number of viewings and buyers registered with the firm.
CKD Galbraith Kelso and Peebles statistics from quarter two of 2014 show:-
- The number of sales in Peebles is up by 14 per cent compared to the previous quarter of 2014
- The number of viewings has increase by 79 per cent in Peebles and by 12 per cent in Kelso since quarter one of 2014
- The number of buyers registered with the Peebles office has almost quadrupled this quarter compared to the previous quarter of 2014 with the Kelso office experiencing a rise of 20 per cent this quarter compared to the same quarter of 2013 In Peebles 72.5 per cent of buyers were locally based; 26.5 per cent were national buyers; 1 per cent were international buyers
- In Kelso 20 per cent of buyers were locally based; 70 per cent were national buyers; 10 per cent were international buyers
Alex Inglis, of CKD Galbraith’s Kelso office, said: “The second quarter has been another encouraging three months for both the Kelso and Peebles offices. The number of viewings and buyers registering interest in the firm continues to grow and we have seen high demand from buyers across the UK not just from within Scotland or locally with 70 per cent of sales in Kelso coming from outside the region.
“The high levels of national interest translated into short sales with the quickest in Peebles taking just two months. We fully expect the levels of interest and confidence shown in the last quarter to progress into high sale figures over the coming months too.”
CKD Galbraith’s Galashiels lettings department have also experienced a successful second quarter.
Shirley Kenyon, head of lettings in the Galashiels office, said: “The second quarter of this year saw a 32 per cent increase in the number of property lets through our Galashiels office covering the Borders region. This is a promising increase which we ae confident will continue through the current quarter and the next. Three to four bedroom properties continue to be in high demand with the average time taken to let properties in the region remaining between four to six weeks. The nearby towns of Kelso and Peebles are popular commuter towns and demand for good quality properties to let is predicted to increase.”
CKD Galbraith has enjoyed substantial growth over the years and operates a network of regional offices located throughout the country. The firm has recently celebrated the launch of its new office in Cults, Aberdeen.