Moray Property Sales and House Prices Show Increase

Figures released by Registers of Scotland (RoS) for July – September 2014 show that the number of house sales in Moray increased from 417 in the same period in 2013 to 498.

This is an increase of just under 20%.

The average cost of a house in Moray is now £153,560, which is a 9.2% increase on the 2013 figure of £140,650.

Interviewed for The Press and Journal, Eileen Hutcheon, Grigor & Young’s Estate Agency Manager, said that it was very encouraging to read the RoS reports issued on 28 October 2014 showing the increase in house sales levels.

In her view, the market in Moray had certainly strengthened and solicitors / estate agents were seeing selling times reduce.

In addition, properties were increasingly likely to achieve their Home Report valuations.

She considered that the reduction in time houses were taking to sell and the increase in sale prices were probably due to a number of factors, including –

  • There being more first-time buyers in the market, as they are finding it easier to get the mortgage offers they need
  • Renewed interest in the market from “buy to let” investors
  • A general increase in confidence throughout the market.

Using figures from the whole of Scotland, the average cost of a house was £170,190 during the period July – September 2014.

The number of properties sold across Scotland increased by 9.1%, as compared with the same period in 2013.

The figures for Moray showed that the July – September quarterly value of property sales had risen from £58.6 million in 2013 to £76.4 million in 2014. This increase in value of over 30% was bettered only by Renfrewshire and East Dumbartonshire.

You can access the full RoS Report here.

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