Those of you who follow my blogs will be getting fed up with the similarity between my monthly updates. I would advise that, according to the Blackadders property team, stats that I have seen and also discussions with people in the property business, the general feeling is that the market still remains very similar. There is a notable geographical divide and I will use this as my basis for the update.
Glasgow and the West is a particularly buoyant housing market with stock and activity levels going well although stock levels are patchy but prices are consistently above Home Report Valuations.
Edinburgh is also very buoyant with high levels of activity however stock levels are slightly lagging and this is causing a supply/demand issue with prices increasing at a high percentage. Moving along to Perth, the Perth market is moving on at a steady pace with activity levels of both sales and listings at or slightly ahead of last year. Dundee and Angus appears to be a slight conundrum with stock levels down between 15 and 20% but the area still has a high level of purchasers. Certain areas are moving strongly and prices are increasing as are the number of closing dates. Moving on to Aberdeen after the depression of the last few years there are definitely signs of recovery in the Aberdeen market. I think that it will take a couple of years for the excess stock levels to work their way through the system and also for realism to be fully embedded in the market. People who are putting their properties on the market now at a realistic price are tending to see it move. People who are unrealistic with their price and have had their property on for a long period of time are not. It is an example of why you need a pro-active Estate Agent in your corner. As a general review I would say that the supply of properties coming on the market is slightly down with a steady stream of purchasers. This supply/demand issue is causing prices in certain areas to rise.
All in all an interesting market. I will keep you up to date on future trends. Please also watch out for a blog regarding the impact of the General Election on the housing market and also a further blog regarding the importance of new build developments to the market. I will continue to keep you advised of trends and look forward to receiving any comments that you may have.
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