Scottish Property Market Reports Record Figures
CKD Galbraith supports the findings of today’s Registers of Scotland quarterly housing price statistical report (October – December 2014) and can report a successful third quarter despite a level of uncertainty in the housing market caused by the Scottish referendum in the final weeks of the previous quarter.
Registers of Scotland has reported that house prices are at their highest level since their records began in 2003. The average sale price in Scotland in the third quarter was £165,197, representing a 3.4% increase compared to the same period last year.
Simon Brown, partner and head of residential sales at CKD Galbraith, said: “The firm’s figures support the new statistics from Registers of Scotland. We have experienced a steady growth throughout 2014 which is continuing into 2015.
“The firm as a whole experienced a 24% increase in the number of sales in the third quarter of 2014/15 compared to the second quarter. As well as the improvement in sales figures, there was also a 23% increase in the number of viewings against 2013’s figures for the same period.
“During 2014, CKD Galbraith handled property in excess of £375 million covering property throughout the whole of Scotland. Prices achieved for all properties sold by the firm during 2014 were on average 1.54% over the asking price, highlighting the firm’s unrivalled local knowledge of the market and expertise in setting prudent valuations.”
Simon continued: “The past three months have proved to be busy and productive with buyers hesitancy around the referendum period translating into a surge of activity and successful transactions during the final quarter of the year. The momentum has continued throughout January and we expect there to be more movement at the higher end of the market before the stamp duty changes occur in April. Although the general election is likely to cause a slight slowdown in activity, we can say that 2015 looks set to be a promising year for the property sector.”
CKD Galbraith is a Scottish firm with a wide reach and during the period October to December, 55% of all sales were to non-local buyers and over the year-to-date 48% of all sales have been to non-local buyers. These figures demonstrate the firm’s international reach and the calibre of properties the firm present to the market.
CKD Galbraith opened a new office in Aberdeen during the summer of 2014 and has strengthened its operations in Edinburgh, Inverness, Perth, and Galashiels with the appointment of residential and land agency specialists. The firm continue to develop and expand the various business streams in commercial, residential and agricultural property, rural management, forestry and energy.
To view the Registers of Scotland quarterly house price report click here.