Market Review Quarter First 2013

May 2013

By Neil Bremner, Local Director

Our market is alive and well!
Now in its third full year the Largs office continues to build on its success since opening in 2010. To date in 2013 the branch has listed more properties for sale than it did in the whole of 2010 re-enforcing the belief that after nearly six years of drought in the housing market the rains may finally be on the way. We still believe that the climb out of recession may not be a smooth one and the confidence in both buyers and sellers may be questioned over the following months but medium to long term investment in property is now looking like a sound choice.

The west coast of Scotland with its wonderful scenery, excellent and varied housing stock and good lines of transport communication to major centres puts the area in an excellent position to capitalise on the ripple effect of the growth now being experienced in Glasgow. Properties in North Ayrshire still sell for up to 30% less than the equivalent home in the city and with commuting times taking less than an hour to get to the centre of Glasgow by train, this is an excellent time to consider a move to the seaside.

Many of the area buyers now come from worldwide locations to purchase iconic bungalows and flatted properties with stunning sea views. Flatted properties with excellent sea views can still be purchased for as little as £120,000 and detached bungalows for less than £250,000. The Largs branch continues to turn over 25/30% of its stock each month confirming that our market is alive and well with waiting lists starting to appear for specific homes, something that has not happened since 2008.

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Neil Bremner
Local Director