During the final quarter of 2016, Stirling property market continued to rise steadily. We consistently found that demand outstripped supply, with many sellers delaying putting their current homes on the market until they found a new property to buy.
This trend has continued into 2017 – it is very much a seller’s market at the present time. The same is true for rental properties, whereby there’s a shortage of available properties to meet the demand.
In light of this, the local Stirling market is highly competitive and we experienced an increase of 16% in closing dates in the last quarter of 2016, compared to the year before. Due to record-low interest rates, coupled with low unemployment levels, we expect this to rise further throughout 2017.
Each of the properties we marketed had an average of 12 viewers and we agreed an average of one sale per day in 2016.
We have achieved a number of recent sales above the £500,000 threshold. Most notably, a stunning five-bedroom traditional family home on St Margaret’s Drive, Dunblane, which achieved an incredible sale price of £700,000.
VIDEO – St Margaret’s Drive
As is to be expected, family homes consisting of 3-4 bedrooms are continuing to sell well. These types of properties are often sold within days of coming to the market, particularly those situated in the local hot posts of Dunblane, Bridge of Allan, Torrbrex, Causewayside, and Dollar.
A notable recent sale was a stunning 5-bedroom detached family home in Bellendon Grove, Dunblane, which sold for an impressive £615,000. Enjoying a fantastic corner plot at the head of a cul-de-sac, this spacious, modern villa has four public rooms, a detached triple garage with a self-contained apartment above, and mature and extensive garden grounds
In the ever-popular Bridge of Allan, we negotiated a successful sale on an impressive 5-bedroom semi-detached home on Abercrombie Drive. Marketed at Offers Over £415,000, the final sale prices was in excess of both the Home Report value and asking price.
With an overall average sale price of £165,412 reported on Rightmove, Stirling remains one of the most affordable cities in the UK to live. The property market in and around the city continues to lead the way, and we predict a steady growth throughout 2017. A great time to invest in property, particularly whist interest rates remain low.
VIDEO – Stirling sales market update
VIDEO – Stirling letting market update
Clyde Property is a leading independent, multiple award winning estate and letting agent with 30 years’ experience in selling and letting property in Scotland. Just call your local Clyde Property branch today, for friendly, impartial advice on finding your next dream home.