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Sellers Market In Perthshire As Restricted Supply Of Property Continues

The Perthshire property market is characterized by strong demand and restricted supply currently, resulting in a buoyant sellers’ market, according to property consultancy Galbraith.

The majority of properties are achieving anything up to 20% above the Home Report value, with noticeable competition between buyers for the very best rural properties. 

The number of viewings arranged by Galbraith in the first quarter increased by 53% year on year. One property in a scenic area near Dunkeld attracted 115 viewings in just ten days.

Scott Holley, of Galbraith based in Perth said:

Supply is very restricted at the moment but demand for rural property is quite intense across all price bands. We are seeing a surge of enquiries directly from social media posts, with buyers registering their interest very quickly and asking for a viewing.

As a consequence, sellers can not only achieve a good price at the moment but they also have more  choice between potential buyers. Sometimes the highest offer is not the only consideration – there are often other factors to consider such as preferred timescales and any chain involved.

Sales handled by Galbraith in Perthshire for the first three months of this year were up 7.7% compared with the same period in 2020.

Scott Holley continued:

Last year we saw a continuing uptick in demand from England and this year that demand continues, yet it is also noticeable that many Glasgow and Edinburgh-based buyers are moving to Perthshire. Lifestyle reasons remain the predominant reason for wishing to move from the city to the countryside – properties with a view, a garden and in a tranquil setting are the most sought-after.

Across Scotland as a whole, Galbraith handled over £52 million worth of property sales over the past quarter.

Currently on the market in Perthshire through Galbraith are properties including: 

Mill Cottage, Nether Kincairney, Dunkeld. Offers Over £340,000

Mill Cottage is a charming traditional cottage in a pretty hamlet. Built in 1993 and extensively renovated in 2013, the cottage has an open plan kitchen-dining-sitting room; two double bedrooms and bathroom. Planning permission has been granted for a significant extension.