The property market in Perth has shot to new levels not seen since the time before the 2007 global financial crash, selling agents have revealed.
Aberdein Considine termed the surge in sales activity across the region since January as “phenomenal” and reported a near 60% increase in its own sales compared with last year.
The firm said that properties valued up to £250,000 are selling “within days” in some parts of the city.
Same trend is reflected in new figures from the Registers of Scotland (RoS), Scotland’s official keeper of property records.
The latest figures indicate that £30 million worth of property changed hands in the city and surrounding region in January, which is up from £22m over the same period last year.
Increased interest is being shown at all levels of the market, said James McKay, Aberdein Considine’s Perth branch manager. He has been selling property in the city for more than two decades.
He said, “The surge in sales activity on our properties since the start of January has been phenomenal”.
“After 22 years in the business, even I am surprised by how much business levels have increased over the winter and into spring.”
“We have seen a surge in requests for viewings for houses priced between £50,000 and £250,000 in all areas of the Perthshire market. The upper market above £250,000 is showing encouraging signs too”, said McKay.
According to RoS figures, 168 homes were sold across the area in January, up from 128 in January last year. The average sale price also rose from £175,888 up to £183,802 over the period.
Mr McKay added: “Our figures across the Perth market are all on the up. Year to date, the number of properties we have sold has increased by 57% compared with the same period last year.
“The average sale price of our sold properties has increased by approximately 17%, and the total combined value of our sold properties has increased by an incredible 84% compared with the same period last year.
“In Perth, there is strong buyer demand in most areas including Oakbank, Viewlands, Craigie, Kinnoull and Scone.
He said, “Several recent sales in the Oakbank and Craigie areas took place only a few days after the start of marketing”.
McKay added that there is also strong demand in Blairgowrie, Bridge of Earn, and other villages such as Balbeggie.
“As far as I can predict, this is only the start of what promises to be an exceptional year for sales in the Perth market”, he said.Risk Warning:
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.