The new office on 16 St Catherine Street, Cupar, has reported an increase in property sales and a rise in the number of high quality houses coming onto the market during the third quarter (Q3 July to September 2015) compared to the previous three months.
CKD Galbraith's research shows a promising picture for the Fife property market and for the Scottish market as a whole which experienced many significant changes during the first six months of 2015 including a new stamp duty system as well as the General Election. However, the third quarter's figures for Fife clearly reflect the growth and stability that the property market is now experiencing.
CKD Galbraith's Fife statistics from the third quarter show:
- The number of properties sold during this period was up 36% compared to the same quarter last year
- Supply of properties coming onto the market increased by nearly 62% compared to the same period last year
- Property viewings increased by an impressive 94% compared to Q2
- 68% of sales were completed by local buyers, 23% national and 9% international
- The number of potential buyers registered with the firm rose by 12% compared to Q2
- The average selling price for the third quarter was 445,000
George Lorimer, Partner and head of residential at CKD Galbraith's Cupar office, said:
The Fife property market has remained very strong during the summer months with an impressive increase in sales, viewings and high quality properties coming to the market.
We were delighted to mark the end of a successful third quarter with the move to superb new larger premises in Cupar town centre. As a market leader in the Fife property market the office move signifies another very positive step for the firm and our team here in Cupar who pride themselves on having outstanding local knowledge, commitment and expertise.
As we move into autumn the strong demand in Fife for quality houses is showing no sign of letting up with a shortage of stock in some areas like St Andrews and Cupar resulting in some sales being agreed very speedily. With buyers waiting we would encourage owners considering a sale to get in touch as soon as possible.