Healthy start for Ayrshire property market

The Ayrshire property market continues to prosper after a healthy start to the year, according to leading Scottish property consultants, CKD Galbraith.

The firm in Ayr has experienced an increase in the number of property sales over the second quarter of the year (period April- June 2015) compared to the first quarter, with more properties coming onto the sales market.

Research conducted by CKD Galbraith over the Q2 period of 2015 presents an encouraging picture for the Scottish property market as a whole which has witnessed steady growth over the first half of 2015.

The firm’s overall sales were up 4.65% during quarter two of this year compared to the first quarter of 2015.

The number of properties sold during this period in the Ayrshire area was up 38% compared to the first quarter of 2015 whilst the supply of properties coming onto the market increased by 22%.

CKD Galbraith’s Ayr statistics from the second quarter also show: 82% of sales were completed by local buyers, 18% national; Average property sales value was £356,704; 27% of purchases were made by cash buyers.

Bob Cherry, partner and head of residential, at CKD Galbraith’s Ayr office, said: “The Ayrshire property market is continuing to show healthy results with our team handling an increase in property sales over the last three months. “This is partly due to a high number of local buyers looking to move up the property ladder as well as people moving into the area to take advantage of the value for money offered by the Ayrshire property market whilst also being an easy commute to Glasgow.”

Lettings in Ayrshire haveseen a 66% increase this period compared to the first quarter of the year and 30% more properties becoming available.

Joyce Smart, head of lettings at CKD Galbraith’s Ayr office, said: “The number of lets successfully secured in the second quarter of this year has risen considerable compared to the previous quarter. We have also taken on a far greater number of applicants seeking rental accommodation in Ayrshire being up 95% on the previous quarter of this year.

“Average rental prices also increased over the period from £596 to £682 as a consequence of demand rising significant.

“Competition remains strong for family sized rental properties and we have witnessed an increase in the number of locals renting who now see it as a way of life offering them greater flexibility for futures moves, up or downsizing, and with the added attraction of high quality properties becoming available, renting has become an attractive long term option.”