THE property market in Dumfries and Galloway has continued to attract high demand from lifestyle buyers with a third of all property sales last quarter being smallholdings, reports Galbraith.
Smallholdings with land up to 50 acres continued to attract heightened demand from buyers keen to relocate to the area from the rest of the UK, with three quarters being from south of the Border and a quarter being from within Scotland.
Galbraith says that demand outstripped supply, highlighting the draw of rural living in Dumfries and Galloway.
The team in Castle Douglas recorded a 16 per cent increase in the number of viewings conducted during the final three months of the year compared to the same quarter the previous year.
Head of residential sales David Corrie, above, said: “It’s encouraging to witness healthy property sales and buyer activity in our final quarter of last year.
“As we enter the busy spring selling season, the market is indicating a good level of competition from lifestyle buyers who remain attracted to the area given the quality of properties available and the value for money property the region offers compared with many other parts of the country.”
He added: “It’s no surprise that smallholdings are in particularly high demand, offering a sizeable portion of land to allow owners to be more sustainable and grow their own, as well as offering ample outdoor space for young kids and their four-legged friends.
“We have buyers registered with us and ready to make their next move so anyone thinking of selling should take advantage of the current competitive market conditions.”
Meanwhile, the average house price in Dumfries and Galloway is currently £171,171.
That’s a drop on the same time last year of 8.4 per cent and, according to chartered surveyors Walker Fraser Steele, the sharpest decline in Scotland.
Their latest report, which looks at activity in December, reveals: “The area on the mainland with the largest percentage fall in prices over the last 12 months, for the second month running, was Dumfries and Galloway. In Dumfries and Galloway, all property types saw prices fall over the year, with the largest fall this month being detached homes, down from an average £275k in December ‘22, to £255k one year later.”
