The Elite Ayrshire Business Circle

The Elite Ayrshire Business Circle

Wednesday, 30 April 2014

Healthy start to year for Scottish property market

Leading independent Scottish property consultancy CKD Galbraith supports the findings of today’s Registers of Scotland’s Quarterly Housing Price Statistical Report (January – March 2014) and also reports an increase in the volume of sales achieved for the first quarter of the year compared to the same period of 2013.

Registers of Scotland has reported that from January to March this year, 17,828 residential properties changed hands – the highest recorded for this quarter since 2007/08 – while the average price of property was £153,352. This represents an increase in residential sales of over 22% compared to the same period in 2013.

Simon Brown (pictured above), partner and head of residential sales at CKD Galbraith, said: “As a firm we have also experienced an increase in sales throughout Scotland with the volume of sales agreed being up this quarter compared to the same quarter last year.

“Spring sales have been encouraging with particular pockets having shown positive signs already including Perthshire, Inverness and Edinburgh. We have also witnessed the return of the competitive closing date system in some regions however setting realistic prices is still imperative.

“Our viewing figures in Perthshire have risen by 60% compared to the same quarter of 2013 and the number of sales agreed by our Edinburgh office has more than doubled against the last quarter and up 62% on the same quarter for 2013. In Inverness sales have doubled over the first quarter of 2014 compared to the same quarter of 2013 and viewings are up by 15% this quarter against the previous quarter.

“The healthy results we have experienced for the first quarter demonstrates an encouraging start to the year for the Scottish property market.” 

Commenting on the latest Registers of Scotland (ROS) statistics on house prices and sales, Housing Minister Margaret Burgess (pictured above) said: “I welcome the Registers of Scotland figures, which show a 22.9 per cent increase in the numbers of homes sold between January and March this year, compared with the same period last year. This is the third successive quarter that volumes are up over 22 per cent on the previous year, illustrating consolidated growth in the volume of sales.

“The Scottish Government is taking action to stimulate the housing market, and through our Help to Buy (Scotland) scheme we are providing £235 million to help more people, including first and second time buyers, to purchase new-build houses. 

“145 house builders have registered with the scheme so far, and six lenders are offering mortgages under Help to Buy. So far there have been 874 completed sales, demonstrating the popularity of the scheme.

“Help to Buy (Scotland) is also helping stimulate economic growth by supporting our housing industry - alongside our commitment to investing in affordable housing across Scotland.”

CKD Galbraith’s Ayr Office is a Founder Member of the Elite Ayrshire Business Circle.

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