New quarterly figures released by the firm covering the third quarter of the year (July – Sept 2019) shows the Fife property market to be holding strong as we head towards the festive period.
The number of properties brought to the market through Galbraith in Fife is up 6% year on year this quarter compared to the same quarter of last year with buyer activity also remaining strong with viewings up 36% over the same period.
Sales remained steady and the level of buyer interest high which has continued to boost the time taken to sell property in Fife which is quicker than in most other parts of Scotland. The average time taken to sell a property by the Galbraith team in Fife this quarter was 48 days with the quickest sale being completed in only five days.
George Lorimer, who leads the sales and lettings team for Fife said:
The Fife market remains remarkably solid with encouraging activity at all levels. There are plenty buyers around waiting for fresh stock to come to market. As was the case at the start of 2019 Brexit uncertainly is causing some vendors to hesitate about going to market but the flipside to this is that it is creating an excellent opportunity for those vendors prepared to crack on.
The run up to Christmas offers a fantastic opportunity to market your property. People are very keen to purchase their new property before Christmas with a view to living in it in the New Year and starting a fresh. Buyers have instant access to new listings online and can do their research in the holiday period when they have some down time and don’t necessarily need to physically view a property to allow for an initial discussion about it.
Fife remains highly attractive to families and retirees from Scotland and the rest of the UK looking for a more relaxed pace of life, as well having a strong international appeal. Buyer trends follow a similar pattern this quarter compared to the previous quarter, with 74% of buyers being Scottish, 16% coming from the rest of the UK and the remaining 10% being international buyers. The average selling price this quarter was £401,000.
Currently for sale through Galbraith in Fife:
Clatto Broomside, Blebocraigs, Cupar, Offers Over £645,000
Clatto Broomside is a delightful extended cottage offering deceptively spacious and charming accommodation. It enjoys a lovely private situation on the south-eastern edge of Blebocraigs surrounded by beautiful countryside and is just five miles to the west of St Andrews.
Wester Kinnear Farmhouse - Newport-on-Tay, Fife, Offers Over £495,000
Wester Kinnear Farmhouse is a charming period property full of charm and character and offers beautifully proportioned accommodation over two levels. It is situated in over two acres of grounds with a steading and paddock extending to around 1.1 acres. It is ideally placed for commuting and is located a short distance to the north of the sought-after town of Cupar in North East Fife.
Galbraith handles the sale of residential properties worth £51.7m on average per quarter across Scotland as a whole.