Data has been released on activity in the Dumfries and Galloway property market between February and July 2022.
In that time, the average property selling price locally was £185,772 – up 13.8 per cent compared to the previous year.
The median time for a property to be placed under offer in this area was 30 days, 27 days faster than last year.
However, the number of new property listings was down 1.2 per cent year-on-year.
The ESPC report also reveals that Kirkcudbright was a regional hotspot, boasting an average property selling price of £240,671, a rise of 30.6 per cent on 2021, while those in Castle Douglas achieved an average price of £190,646; and homes in town went for £184,176.
The three locations also boasted the greatest volume of property sales and new listings.
Meanwhile, the statistics show that demand increased for a home in the Dumfries and Galloway region, with selling times 27 days faster than the previous year. During the six month period, properties here had a median selling time of 30 days from coming on to the market, to going under offer – and it was even faster in Dumfries at 22 days.
Property types that went under offer the fastest were two-bedroom houses in Dumfries town, followed by two-bedroom houses in Dalbeattie.
Commenting on the local picture, Paul Hilton, CEO of ESPC, said: “The latest data for Dumfries and Galloway indicates that there is strong demand for properties here. Rising selling prices, decreasing selling times and a higher percentage of Home Report valuation achieved indicate a competitive market, with people moving quickly and decisively to secure the home they want.
“The market here is starting to even out after high demand for properties after Covid lockdowns. Two-bedroom homes were particularly popular in Dumfries and Galloway, showing that the area is popular with first-time buyers.
“I advise those thinking of buying or selling a property in Dumfries and Galloway to contact a local solicitor estate agent to get expert advice.”
