Market Reviews

Colin McCrossin reports on the market during the last quarter.
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Market Review

Colin McCrossin
Local Director

Troon: 01292 310 010

Fourth Quarter Report 2017

2017 has been another very positive year for sellers with continued demand from greater Glasgow, despite an increased supply of new build property in and around Troon. Closing dates are now a regular occurrence with our Ayr and Troon offices seeing 25% of sales ending with multiple offers.

The year on year facts and figures speak for themselves:

  • Sales volumes up 5%

  • New buyer registration up 10%

  • Sales times down by an average of 3 weeks

  • Closing dates on 22% of properties listed

  • 45% of buyers from out-of-town

The vast majority of our sales have been between £100,000 and £300,000 with bungalows continuing to be in high demand/short supply with several achieving prices more in line with the vibrant days of 2006/2007. Seafront properties will always attract a premium although demand for smaller apartments is limited.

A more detrimental aspect to the Troon market this year has been the ongoing availability of new build property with 2 nationwide developers currently building a wide variety of properties ranging from 2 to 6 bed villas. These developments will be on-going for some time and whilst buyers are attracted to the ‘fixed price, brand new property’, we urge caution as, like a new car, reselling within a few years will result in a vastly reduced price against the purchase price.

There have been several noteworthy sales this year including four sales in excess of £800,000 and 1 sale at £1,100,000. Troon is blessed with many impressive properties and these sales take our branch sales of properties above £1,000,000 to 8; an impressive return for a relatively small town. Possibly the most surprising fact is that all 8 buyers have been fairly local!

Going into 2018 there is very little property for sale in Troon and this has created a wonderful opportunity for motivated sellers to achieve an excellent price at the start of the year. Our advice is to get to the market early and avoid being ‘one of the crowd’ going to the market in spring. Quite simply, strike while the iron is hot!

Corum Troon office
29 Portland Street
KA10 6AA

Tel: 01292 310 010