Scottish Property Market Shows Steady Growth
CKD Galbraith has reported that its own sales figures largely support the statistics issued today by Registers of Scotland showing good levels of activity and growth in the residential property market.
Registers of Scotland today revealed that from July to September the average price of property in Scotland rose 0.6% compared to the same period last year. Whilst the average selling price remained steady for the firm, CKD Galbraith has reported a significant growth in sales with a 26% increase from July to September in comparison to the same quarter in 2015.
According to Registers of Scotland the City of Edinburgh had the largest market with sales of £806.2 million for the quarter, an increase of 2.3% on the previous year. A trend also experienced by CKD Galbraith’s Edinburgh office. The Edinburgh office’s sales figures for this quarter rose by 10% against the same quarter of 2015 with the majority of sales in the middle tier of the market where many properties have sold at a competitive closing date.
Simon Brown, partner and head of residential sales at CKD Galbraith, said:
As a firm we have continued to experience high levels of demand for property at all price points, with particular interest throughout Scotland in rural properties with small blocks of land offering an outdoor lifestyle to buyers.
Scottish property is currently presenting greater value for money than many other parts of the UK. Whilst the average price of property in Scotland has remained fairly consistent throughout 2016, property prices in England continue to rise. Scotland offers good value at all levels of the residential market for those selling in England and moving north to take advantage of the lifestyle and deals on offer.
The uncertainty surrounding the Brexit vote earlier this year has all but disappeared from the market. Therefore, we would urge sellers not to hold off selling over the winter months as the market is proving to be extremely competitive and there are serious buyers out there willing to act fast to secure the right property.
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.