Property News

Properties are continuing to sell exceptionally well in Tayside and Fife with demand far outstripping supply. As a consequence of this property prices have continued to rise over the last few months with many properties going to closing dates and receiving offers in excess of the home report. At Thorntons our buyers mailing list continues to grow on a weekly basis with over 10,000 clients now registered.

Over the last few weeks we have noticed more properties coming to the market. This is traditional for this time of year as the better weather and lighter nights arrive. I would expect this to continue and as a consequence stock levels should increase giving buyers a better choice moving forward.

Family homes with gardens and a spare room for office space continue to be the most popular with multiple buyers going after each property. We are also seeing an increase in the number of sales for Flats for the first time in 2 years.  

As a consequence of slightly more supply, increasing mortgage interest rates, cost of living increases and global uncertainty I would expect the market to cool down slightly over the next few months which will lead to a slowdown in house price growth. This will be welcomed by many buyers. According to research conducted by Nationwide, house prices grew at the fastest annual pace in 17 years last month (March 2022). 

Peter Ryder

Managing Director

Thorntons Property