In the past three months, Dumfries and Galloway has seen an increase in its’ property sales compared to the same period in 2015. The market has become increasingly popular to English buyers, as the county’s property proves to be excellent value for money and therefore an attractive investment. Those people wishing to cross north of the border are finding that they are able to afford their idyllic country home set in a beautiful scenic location – something that seems a far cry from the South of England.
CKD Galbraith’s Castle Douglas office, during 2016’s second quarter (April – June), experienced double the number of property sales compared to the previous quarter. Moreover, there was a twenty five per cent increase in the supply of high quality homes.
The Current Market
Although the current market has also proven to be highly sought-after by first time buyers, which has resulted in a vast increase in prospective buyer activity, the lettings market is also moving from strength to strength with many future buyers renting to give themselves a taste of rural life before committing to the property ladder. The power in the lettings market is better than that though as the demand for long-term lets is proving preferable instead of a quick try before you buy scenario. In particular, the request for a house in the countryside with a small plot of land has seen a rise.
Despite the uncertainty of Brexit on the property market being experienced in most other places, it has not affected Dumfries and Galloway badly at all.
A graph showing the Average Asking Price by Type of Property in Dumfries and Galloway.[1]
To find out more on property asking prices from August 2015 – August 2016, please click here.
[1] Image Source: www.home.co.uk