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Two Distinct Buyer Types Boost Moray Property Sales

The Moray property market has continued to flourish with two distinct buyer types boosting sales according to leading independent consultancy Galbraith.

The firm publishes its market review for 2021 which saw the agency team in Elgin handle a 38 per cent increase in property sales compared with the previous year. 

The value of sales handled by Galbraith, Elgin in 2021 totalled in excess of £23.1m resulting in an average selling price of £409,398.

Property viewings in Moray increased by 98 per cent in 2021 compared to 2020, with this level of competition resulting in some exceptional premiums being paid for the most attractive properties, one sale peaking at 51 per cent above the asking price.

40 per cent of purchasers throughout 2021 were from out with the Moray area.

Rod Christie, partner and head of the estate agency team in Elgin, said: “Our yearly results are testament to the popularity of Moray as a lifestyle destination. We have seen heightened demand for properties of all types and across all price brackets as buyers recognise the multiple benefits of living in an area that offers something for all home owners be it coastal views, rural living or in-town locations. Speyside remains extremely popular as well as properties within a 20-minute drive in and around the towns of Forres and Elgin.     

“Our research for 2021 highlights some key differences in buyer preference and how these have manifested in two distinct markets.  You have those who are still attracted to traditional period properties whilst there is a very separate market for those perhaps more interested in the energy efficiency benefits and light offered by more contemporary houses.  On several occasions this year we have marketed properties for sale in both categories, at the same price point and within a short distance of one another and not once did we get a cross over of buyers looking at both properties. Buyers nowadays have a very clear idea of what they are looking for.”

Currently for sale with Galbraith in Elgin:

Birkenbaud View is an impressive detached house located in a highly desirable position at Wardend, to the south of Elgin. Sitting in an elevated position, the house enjoys breath-taking views westwards over the fishery, glider airfield and surrounding countryside. This five-bedroom contemporary rural property is highly energy efficient with a bio mass boiler and boasts impressive grounds extending to about 0.47 ha / 1.1 acres.

  • Denmoor, Birnie, Elgin, Moray, guide price £490,000, is a magnificent family home located in an accessible rural position south of Elgin. The property offers Spacious and well laid out accommodation with three reception rooms and six bedrooms. It enjoys generous garden grounds extending to some 0.78 acres (0.32 hectares). Also included in the sale is a superb log cabin complete with a bedroom, sitting room with wood burning stove and an adjoining shower room. The cabin could be used for short term lets to generate an additional income.

 

Galbraith handles the sale of property valued at £55.4m on average per quarter. The firm has 13 offices across Scotland and the north of England and two-thirds of its property sales are to buyers registered with the firm.