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Dundee property market performing well


Dundee property market performing well

A Tayside property expert has described the local property market as ‘resilient’ agreeing with the positive results of a survey released by RICS earlier this week.
A Tayside property expert has described the local property market as 'resilient' agreeing with the positive results of a survey released by RICS earlier this week.

George Solley, director of property sales at Thorntons Property Services, has revealed that the Dundee market is performing well.

He said: "Although September did see a drop in activity in the lead up to the Independence Referendum, figures are still higher than during the same month last year.

"Sales performance has continued to improve into October with the month-to-date sales exceeding the value of new properties coming to the market which is producing some good results for sellers.

"I suspect some sellers may have decided to wait until the turn of the year to bring their properties, but for those in a position to market, particularly in the popular sectors of the market, we have the demand now.

"The market has shown resilience and there has been a marked shift in emphasis to finding suitable property to buy rather than concerns about selling. This is still not 'across the board' but many sectors of the local market are selling well and at prices which are in keeping with sellers' requirements, or better."

" Concerns over the number of properties on the market have been expressed but that can also be read as indicative of a healthier sales market in the city. The timescale for properties selling has changed and the rolling stock does reduce in these conditions particularly towards the end of the year where listing of properties tends to reduce in any event."

Throughout 2014 we have seen a considerable improvement in activity and there is still time to take advantage of the upturn this year. Some interesting developments in the pipeline for 2015, including the proposed revisions to the Stamp Duty arrangements in Scotland which will impact on the market going forward. However, having experienced the "ups and downs" of the property market over the years there is a lot be said for sellers taking advantage of any current demand which exists.

George Solley, Director of Property Sales
Thorntons Property Services.

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