Region’s property market gains momentum

The property market in Dumfries and Galloway is gaining momentum, according to experts this week.

Property consultants CKD Galbraith have released new statistics showing that the market has regained interest.

The third quarter of 2014 (July-September) saw property sales across the region maintain a steady supply of properties and interest levels with a slightly lower than normal level in proceeding buyers which can be attributed to decisions being withheld until after September 18th.

Following research conducted by the firm’s Castle Douglas office statistics from quarter three of 2014 show that the number of sales and viewing figures have remained resilient with only a slight dip during the third quarter compared to the previous quarter but a rise when compared to the same quarter in 2013

The number of buyers registered with the Castle Douglas office has increased by 65 per cent against the second quarter of this year and up by eight per cent when compared to the same period last year

David Corrie, of CKD Galbraith’s Castle Douglas office, said: “The residential market in Dumfries and Galloway has had a mixed level of supply and demand over the third quarter of this year; however this is to be expected considering the political and economic uncertainty which grew over the summer months. The region has shown a good degree of resilience though and the final quarter of this year is likely to witness a return in confidence from buyers and sellers.”

There were also positive signs in the Dumfries and Galloway lettings sector.

Colleague Marion Currie added: “We have been greatly encouraged by our findings for the third quarter of this year, indicating growing strength in the Dumfries and Galloway rental sector. There has been a significant increase in the number of people seeking a rental property, up 33 per cent compared to the second quarter.

“A trend we have witnessed is interest from existing tenants seeking larger rented accommodation with a willingness to take their time to find the right property, as well as young couples starting out with their first home together. Therefore, there is strong demand for flats and small houses close to towns but also unfurnished farmhouses and cottages which can be used as long-term lets.”

CKD Galbraith operates a network of regional offices located throughout the country and has enjoyed good growth over the last year which it expects to continue into the final quarter of 2014.