Fife Housing Market "Thriving"

Fife's housing market is "thriving" with momentum and interest growing, according to a report by local firm CKD Galbraith.

Sales were up 7%, viewings up 35% and almost two-thirds of purchases were made by locals.

CKD Galbraith’s Cupar statistics from the third quarter of 2014 show:

• Sales were up by seven per cent when compared against the last quarter of 2014 and had increased by 40 per cent compared to the same period in 2013
• A 35 per cent increase in viewings this quarter compared to last quarter and a twofold increase against the corresponding period last year
• The number of buyers registered with the Cupar office rose by 44 per cent compared to the third quarter of last year
• 60 per cent of buyers were locally based; 30 per cent were national buyers; 10 per cent were international buyers

George Lorimer, partner in CKD Galbraith’s Cupar office, said:
“The Fife property market has enjoyed another very successful period as demand continues to outstrip supply. We experienced a steady rate of growth over the first half of the year and barely noted any hesitancy from buyers and sellers in the weeks before the referendum, apart from at the higher levels where things did slow somewhat. The higher end of the market has started to recover since the vote however with a noticeable improvement in activity, both in terms of offers received and new sales instructions.
 
“Demand remains very strong for good houses in the £250,000 to £450,000 bracket, with rural properties that come with a few acres especially sought after and rather rare. We expect the final quarter and first few months of 2015 to be particular busy at the higher end of the market before the new Land and Building’s Transaction Tax replaces stamp duty rate in April.”