JULY 29, 2016 | BY A & S Property
Greater activity in the Dumfries and Galloway letting market
Rental demand for rural homes in the Dumfries and Galloway unitary council area of Scotland has increased sharply in recent months as more people seek a taste of county living, according to Scottish property consultants, CKD Galbraith.
The increase in prospective tenants in the region has led to properties disappearing quickly from the private rented market and demand outstripping supply.
Aaron Edgar, letting agent at CKD Galbraith’s Castle Douglas office, said: “The letting market in Dumfries and Galloway has, in recent month, experienced a steady level of growth and increased demand for good quality rural homes, ideally with small plots of land.
“Tenants are typically looking for long-term homes rather than stop gaps and demand continues to outstrip supply across the region. Family homes in areas such as Castle Douglas and Kirkcudbright are particularly popular and can attract multiple offers.”
It is predominantly locally-based prospective tenants who are the most active within the Dumfries and Galloway lettings market, according to Edgar (below).
He continued: “So far this year, we are seeing more local families moving and upsizing within the area than tenants coming from outwith the region. With the sales market still very challenging for first-time buyers and even second time buyers, we are experiencing a shift in focus amongst young couples and families opting to get the house they need now by renting rather than waiting for the opportunity to buy.
“However, the firm has also encountered increasing interest from south of the border from people looking to move to the area and who are willing to rent for up to a year until finding the right property.”
It is not just the rental market that is hotting up across Dumfries and Galloway, with the company reporting that sales activity has also picked up of late.
During the second quarter of this year, CKD Galbraith’s Castle Douglas office reported substantial interest from buyers across the UK.
Prospective buyer activity also contributed towards a healthy property market in Dumfries and Galloway with property viewings up by an impressive 66% compared to the first quarter of the year and the number of prospective buyers registering with the Castle Douglas office increasing by 36% in comparison with the second quarter of 2015.
David Corrie, head of residential sales at CKD Galbraith’s Castle Douglas office, said: “Rural lifestyle properties in Dumfries and Galloway remain extremely sought after and we have continued to see English buyers in particular seeking homes across the region with national buyers accounting for 57% of our total sales this quarter.
“Never before has there been such a difference in the value of property between some areas of rural Scotland and the south of England. Dumfries and Galloway is a beautiful part of Scotland that has a lot to offer buyers looking to upsize and find an idyllic rural retreat that might be unaffordable in other more populated areas of the UK.”
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