The number of property sales completed by Galbraith in Stirling during this period (Jan – March) was up 9 percent on the same quarter of 2018 and the number of properties going ‘under offer’ increased by 83 percent on the previous quarter of 2019.
Jennifer Campbell, who heads up residential agency in the Galbraith Stirling office, said:
Competition for small holdings and residential property with a sizable portion of land, be it for equestrian use or as a business premises for a variety of different purposes, has helped to drive demand within the Stirlingshire property market over the past three months.
Properties within Stirlingshire offer a highly attractive rural setting in an easily accessible location with excellent links to Perth, Glasgow and Edinburgh. Affordable lifestyle properties are proving very popular to both domestic and international buyers.
Smaller areas of amenity land which can be developed into a conservation garden or woodland are in great demand and properties of this nature can achieve a sale price well in excess of the asking price if marketed correctly. Jennifer continues:
The Galbraith National Farm Sales Centre based in Stirling handles a large proportion of property sales with land throughout central Scotland, and we can offer expert advice on a change of land use and advise prospective buyers on a property’s untapped potential, thanks to our in-house planning team.
A recent example of a competitive property sale was Wester Mailing by Denny which had a significant area of amenity land and farmland, with a useful range of outbuildings. In addition to its charm, character and rural outlooks, the property was within close proximity to Glasgow and Edinburgh. Wester Mailing attracted over 30 viewings and nine offers at a closing date, achieving in excess of 15% over the asking price.
Galbraith is currently marketing a small agricultural holding, Balhaldie Farm outside Dunblane, which has already attracted 74 viewers from across the UK. The property is for sale at offers over £380,000 and includes a modern three bedroomed house with garden grounds, equestrian facilities including stable block, outdoor arena, woodlands, paddocks and former agricultural outbuildings extending in all to 8.4 Ha (20.7 Acres).
The Stirling office of Galbraith is witnessing a high level of both buyer and seller confidence in the local market having handled double the number of viewings and market appraisals this quarter in comparison to the same three months of 2018. 10 percent more prospective buyers registered with the residential team in Stirling this period compared with the same quarter of 2018 and of those who purchased a property through Galbraith in Stirling, 83 percent were Scottish with the remainder being from the rest of the UK or overseas.
Galbraith’s preliminary results for the financial year ending April 2019 show an increase in revenue of 7 percent and an increase in profits of over 12 percent. On average the firm handles £54 million worth of property sales per quarter for Scotland as a whole.