With ever increasing demand and lack of supply driving values higher, rates of growth here have outpaced many other parts of the UK. Statistics show the average price of a property in Scotland in May 2019 was £152,801- an increase of 2.8% on the same time last year.
During the spring months, Brexit was still very much on everyone's mind, however with the sun shining on Scotland and the summer hitting, the housing market in the area has been increasingly buoyant, with a continuous demand for all types of properties encouraging fresh confidence for buyers and sellers.
In Peebles specifically, 3- 4 bedroomed homes are highly sought after and through-out June and July generally achieving over the valuation price, with many going to a closing date. Bungalows of varying sizes continue to be popular, especially close to the town centre and any coming onto the market can be sold within a day leaving a long list of potential buyers still waiting. There has also been increasing demand over the summer months for holiday homes and buy to lets which has helped move the smaller properties as there would still appear to be a shortage of active first-time buyers. With Edinburgh being the most expensive place to live in Scotland, more and more families and commuters are moving into Peebles and surrounds, choosing an idyllic environment with easy city access forcing the price trend upwards.
Annette Romanes, Property Manager, Blackwood & Smith