Director, Bruce Patterson reports on the market during the last quarter. Click on a branch link below to access the quarterly market review for your area.
More properties sold at closing date
The Ayr and Prestwick housing market continued it's strong performance during the third quarter, with a further increase in volumes and concentrated activity particularly within the lower to middle price ranges. Buoyed by the Scottish version of ‘Help to Buy’ equity loan scheme which starts on the 30th September,and an endorsement by the Bank of England to continue with low interest rates, we are now seeing closing date sales ( multiple offers ) on a regular basis, especially for traditional bungalows and smaller family homes.
In Seafied this month we have recorded several sales in excess of £200 per sq. ft., which is well above the five year average and indicative of a vastly improving market. This has been driven in part, by an increase in the number of buyers downsizing from the greater Glasgow area in order to fund retirement plans. Family homes in Doonfoot have also been in demand and three of our sales at the £400k plus range have achieve closing date sales within the last quarter.
Prestwick remains Ayrshires property hotspot and we have successfully sold over a dozen properties at various price levels within the last quarter. We are now suffering from a lack of supply and would encourage any potential purchasers within the Prestwick and surrounding district to make contact with our Ayr or Troon offices as we have an extensive mailing list for this area.
Although there are challenges that remain at the top end of the market, it is noted that during previous economic recoveries that this sector is the last to recover. As almost all housing market indices are now reporting positive news, we anticipate a significant improvement at this level to occur within around six to twelve months. As always any questions or information please email me at firstname.lastname@example.org
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