The Elgin office has reported an increase in property sales and a rise in the number of high quality houses coming to the market during the third quarter (Q3 July to September 2015).
CKD Galbraith's research shows a promising picture for the Moray property market and for the Scottish market as a whole which experienced many changes during the first six months of 2015 including a new stamp duty system and the General Election.
However, the third quarter's figures for Moray reflect the growth and stability that the property market is now benefitting from.
CKD Galbraith's Elgin office statistics from the third quarter show:
- The number of properties sold during this period in Moray was up 50% compared to the previous quarter
- The number of properties on market also increase by 23% compared to the same quarter of last year
- 53% of buyers were local and 47% national
- The average sale price for the third quarter was 319,743
- 67% of completed sales were to cash buyers
Rod Christie, head of residential at CKD Galbraith's Elgin office, said:
The third business quarter of the year has seen a steady increase in both demand and supply of properties in the region. On the whole, it has been a very successful summer but notable in the sense that the market is very active for properties valued up to 350,000 but slower for those at the top end of the market.
Buyers nowadays will commence their search online and then if interested in what they see, will contact us about a particular property. Having the best photography and presentation possible and the widest available marketing network are therefore paramount to capture the interest of serious prospective buyers. High quality marketing is as crucial as ever and this has been the backbone to our successful year.