Scottish Property Market Enjoys Early Summer Boost
The Scottish property market has a spring in its step for early summer. CKD Galbraith has reported a clear increase in interest and property viewings across Scotland from local, national and international buyers.
The traditionally busy spring period has been followed by even stronger growth in the first few weeks of summer with property valued up to £500,000 selling especially well. Homes valued above this level are still tending to stay on the market for longer.
The property sector is familiar with the natural peaks and troughs in activity in the run up to events such as elections, referendums and holiday periods. However, CKD Galbraith has witnessed a considerable increase in buyer activity recently with many sales resulting in competitive bidding and closing dates.
John Bound, Partner at CKD Galbraith commented: "We have witnessed an especially strong surge in activity across the country recently and believe this is due to a number of factors. Political uncertainty has eased and potential buyers and sellers have a renewed confidence in the property markets from the south of England to the north of Scotland."
"There has been increased activity right across Scotland and in Edinburgh demand for high end city centre property continues to rise."
"The Inverness office is experiencing some extremely positive movements. We were instructed on 26 new properties in the past three weeks and we are being invited to pitch for more on a daily basis. There have been over 50 viewings in a fortnight with prime property on the west coast continuing to do very well indeed."
Lorna Donaldson, from CKD Galbraith’s Edinburgh office, added:
"The Edinburgh property market made an extremely strong and promising start to 2015 and shows no signs of slowing down, despite any uncertainty which surrounded the general election."
"During the first three months of 2015 the Edinburgh residential team sold over 40% of its city centre offerings to cash buyers, with just under half of all city sales going to closing date, and with properties achieving up to 14% over the home report valuation."
"The month of May has definitely marked a return of confidence and increase in interest from buyers who are ready and able to act fast and pay a premium for the right property in their preferred location."
The firm’s Perth office has also reported a notable boost in activity with three properties having gone under offer in the last week alone and rising viewing figures for properties sensitively priced across all price brackets. The experienced team in Perth is also preparing to launch a further 16 properties to the market and expect interest from buyers both locally and national, as well as the international buyer.
David Corrie, from CKD Galbraith’s Castle Douglas office, commented: "We have also witnessed some promising first steps in the last few weeks. There is a good level of new property coming to the market in Dumfries and Galloway and as ever accurate and sensitive pricing remains key to buying and selling property in the region."