Market Review Quarter First 2013

May 2013

By Bruce Patterson, Director

What a difference a year makes!
What a difference a year makes ! Closing dates a plenty, reduced selling times, premiums being paid over Home Report and values increasing for certain property types has given all those involved in the Ayrshire market a welcome boost during the first quarter.

Overall our busy Ayr office has enjoyed an 18% increase in sales volumes year on year combined with a reduction in average selling times which incredibly, is nearly twice as fast many local estate agents. The pattern of purchasers moving to Ayrshire from the the South side of Glasgow clearly endorses the benefit of instructing an agent with multiple retail outlets and over 50% of completed sales during the period were from out of town buyers.

Ayrshire property still represents excellent value when compared with the South side of Glasgow and values still lag the city by around 30/40%. In fact, probably the most significant factor of our success this quarter has been the number of clients looking to downsize from the greater Glasgow area and fund retirement plans due to low returns on traditional investment vehicles.

We are extremely encouraged by many of our sales many of which have beaten our own and our clients expectations and at a genuine premium to existing Home Report values. In addition many of our clients have been genuinely surprised at the number of closing dates our sales professionals have achieved which of course means for a more successful and less stressful sale!

The happy result is that our Ayr office is reporting an extreme shortage of large family homes in key locations such as Alloway and Doonfoot and in particular, traditional semi and detached bungalows, ground floor apartments and conversions close to Ayr town centre. For any property related advice please contact the Ayr office on 01292 880888 or just pop in just for a coffee and a chat.

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Bruce Patterson
Director