Page 21 - ESPC Property Market Report - Mar-Aug 2023

Sales
DUMFRIES & GALLOWAY volumes rose

32.5%
year-on-year

Dumfries & Galloway Buyers paid
homes were on the
market for 100.2%
Average selling price declined, with 40 days of the Home Report
stark differences between some valuation
locations
The average
The average selling price of homes in Dumfries &
selling price of property
Galloway was £177,954 during September-February,
in Dumfries & Galloway
an annual decline of 6.2%. was
£177,954 D&G homes sold for the closest
Moffat was the most expensive area to buy a property, to valuation, offering strong
during this period
with homes in this location selling for £250,504 on
opportunities for buyers
average. By comparison, Dalbeattie was the most New
affordable area, with an average property selling price property insertions Dumfries & Galloway presented the biggest
of £143,497, representing the vast diversity in property increased by opportunity for a bargain for househunters, with
prices across the region. 9.4% properties in the region selling for 100.2% of the
annually Home Report valuation figure on average – the
Sales and insertions boom as closest figure to valuation covered in this report.
This is 3.3 percentage points lower than the same
popularity rises for the region
time last year, once again highlighting the changing
The property market in Dumfries & Galloway saw expectations of sellers this market, and clearly
Properties moved at the slowest
plenty of movement during the traditionally quieter showing how higher numbers of properties on the
pace but some areas shifted quickly
months of September – February; new property listings market is reducing pressure on buyers to pay higher
rose by 9.4%, while sales volumes leaped up by 32.5%, Properties for sale in Dumfries & Galloway took a premiums to secure their ideal homes.
indicating a burst of popularity for this region. median time of 40 days to go under offer, which is
five days slower than the previous year. This median Buyers paid the highest premium to live in Dalbeattie,
Dumfries Town recorded the highest number of selling time makes the Dumfries & Galloway market with homes in this area achieving 103.6% of the Home
properties coming onto the market, followed by the slowest-moving in this report, which means that Report valuation on average. In contrast, homes in
Dalbeattie, Langholm, Castle Douglas and Kirkcudbright. buyers in the region can enjoy plenty of time to Dumfries Town attained the lowest percentage of
consider their options before committing to making Home Report valuation, recording a 98.5% average,
The most popular areas with sellers were a mixed bag: an offer. which means many buyers in this area were able to
Kirkcudbright reported the highest sales volumes, secure a bargain and purchase a home for less than
which also increased by 53.3% year-on-year, followed Homes in Castle Douglas sold the quickest, going its official value.
by Dumfries Town, which had a 16.7% boost in sales. under offer in 20 days – 26 days faster than the
Castle Douglas saw its sales volumes double year-on- same time the previous year. 60.3% of homes for sale in Dumfries & Galloway
year, followed by Moffat (reporting a 9.1% rise), and sold for at least their Home Report valuation, which
Dalbeattie, where sales volumes decreased by 8.3%. 11.2% of properties went to a closing date, down is a stark change from the 74% seen the previous
from 27.2%, which again ties into the median selling year. While this may not appear to be good news for
Three-bedroom houses in Kirkcudbright were the times and indicates a much more relaxed market sellers, it’s important to note that sellers planning to
biggest sellers overall, demonstrating high demand pace than the previous year. Thornhill was a very make onward purchases can also benefit from this
from family buyers, as we have seen across many popular area, with 30% of the homes listed here change in the market, and potentially secure a saving
regions covered in this report. setting a closing date. on their next home.

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