House hunters in Perthshire could be set to catch a wave of great deals after being thrown a lifeline by an increase in sellers putting a fixed price on their properties.
Buyers with finance in place could snap up their dream home at a competitive price and help speed up the slowing market, and sellers could also benefit from quicker sales by taking a realistic view of what they will get for their homes.
"In fact, there hasn't been a better time to buy a property in the last five years," says James McKay, property manager at Perth's leading estate agency Thorntons Property Services.
He said: "In previous years, buyers would most likely have had to bid above the offers over price in the hope that they would be successful. As sellers come to terms with the downturn they are being encouraged to re-think the asking price of their home."
Despite the downturn in mortgage approvals, Thorntons Property Services reported sales of more than 100 properties a month on average in 2008, and indications are that fixed price properties and continued reductions in the cost of borrowings are encouraging more buyers to the market this year.
James said: "There have never been so many fixed price properties on the market during my 15 years in the profession. Even in locations where competitive bidding would have produced high sale prices in the past we see evidence of this.
"Properties at fixed price have sold in desirable areas including Kinnoull, Scone, Craigie and Oakbank, while sought after villages including Luncarty, Bankfoot, Bridge of Earn and Methven are seeing similar trends. Similarly, luxury detached bungalows and villas are available in the sought after Carse of Cowrie.
"With new build properties, some attractive incentives are available. Developers know that the market is tough, but with some attractive completed properties sitting unsold they are offering incentives and schemes to facilitiate sales and attract buyers."
Issued by Beattie Communications on behalf of Thorntons Solicitors.
Contact: Kimberley Hamilton, Tel 01698 787878