Demand continues to grow for Perthshire properties at sales rise 38 per cent

The number of Perthshire property sales completed by one estate agent ’s Perth office rose by 38 per cent year-on-year during the final months of 2016 (October – December).

The figures have been reported by CKD Galbraith, which also said the number of properties on the Perthshire market with the firm also rose by 45 per cent compared with the previous three months.

Emma Chalmers, partner and head of agency at CKD Galbraith’s Perth office, said: “High levels of demand and buyer activity have continued throughout the winter months which is typically thought of as a quieter period in the property market.

“However, the agency team has experienced a very busy start to 2017 with an increasing number of prospective buyers looking to secure their new property now. Sellers are now benefitting from more of a twelve month market and shouldn’t wait until the Spring months to start marketing their properties when competition in the area is likely to be higher.

“Suitably priced properties across Perthshire are generating more enquiries, a good level of viewing figures and in some cases are experiencing buyer competition. Buyers remain considered and price sensitive but are quick to act and are willing to pay the asking price or indeed in some cases over the market value when they do find the right property for them.

“Rural property with land continues to have great demand from buyers, whether it is a country cottage, farmhouse, land with planning permission or a house in need of renovation with anything from a few acres up to 30 or 40 acres. Country property, either new build or period, also bring in a lot of interest especially if benefitting from a stunning view, quiet setting or good convenience to the cities.

“The experienced Perth team recently handled the sale of Balnabein, in Grandtully, which was on the market for offers over £375,000. Within one month the property had received 16 viewings and went to a highly competitive closing date, selling for £426,000. Similarly, Cogbrae Farm, a traditional farmhouse in need of extensive refurbishment with 30 acres of land and lying close to the village of Methven, went under offer within one week of being launched onto the market by the firm in excess of the asking price.”

The final three months of last year also saw CKD’s Inverness office report a 23 per cent rise in the number of property viewings in the Highlands compared with the same period in 2015.

The office also had a particularly active January with 87 viewings and 156 prospective buyer registrations.

Phiddy Robertson, head of residential sales at CKD Galbraith’s Inverness office, said: “We experienced a steady level of sales throughout the final months of 2016 but recorded a significant increase in buyer activity during the first five weeks of 2017.

“Whilst the winter months have traditionally been held as a less favourable time to sell, there appears to be a change in buyer behaviour and sellers are now benefitting from a twelve month market so shouldn’t wait until the Spring months to start marketing their properties when competition in the area will be higher.

“The Highlands attract buyers from across the whole of the UK. During the fourth quarter of 2016 national buyers accounted for 67% of all sales in region. The firm not only has a wide-reaching market but the residential sales team here in Inverness are also highly skilled in matching viewers to the right properties for the best results.

In the Scottish Borders market CKD said demand is continuing to outstrip supply, sustaining healthy competition in the marketplace.

The agent said it has experienced strong sales in the area for the period Oct – Dec 2016, with the number of sales conducted by the Kelso office being up 63 per cent compared with the same period of 2015.

The firm’s Galashiels office reported a two-fold increase in the number of properties being brought to the market during this period in comparison with the same quarter the previous year, generating increased buyer interest.

This trend continued into January with both the Kelso and Galashiels offices conducting a high number of property viewings.

Polly Cregan, head of sales for CKD Galbraith in Galashiels, said: “We have enjoyed high levels of sales in recent months which has resulted in a shortage of good quality houses available, particularly family homes with land for horses.

“Sellers are also still being hesitant over winter months and viewing the market as seasonal which has created a shortage of stock. However, the market is now active year-round and we would encourage anyone considering selling this year to do so sooner rather than later as there is healthy appetite from buyers keen to move quickly when the right property comes on the market.”