Q3 Update – Clyde Property Perth
Perthshire, known as the Gateway to the Highlands, is an area steeped in natural beauty. With incredible countryside, easy access to the mountains and good transport links it has always been a highly sought after part of Scotland. Demand for mid-range properties has always been strong.
The global pandemic essentially shut down the property market from April until July. During that time there has been a nationwide shift in buyer requirements, with people re evaluating what they want from their homes and Perth is no different. Both renters and homeowners have developed more of an appetite for additional space to accommodate changing work patterns – with as much as a third of the workforce still working from home – along with pent up demand from the market lockdown.
What’s more, the stamp duty (LBTT) holiday resulted in mortgage approvals soaring to a near 13-year high in August, as the scramble to buy homes continued. The number of approved mortgages were at their highest level since the end of 2007. A total of 84,700 mortgages were approved – this is a 28% increase on July’s total, according to the Bank of England.
The Perthshire property market remains strong with large family homes selling particularly well in the £350k- £500k price range. Viewing levels have been well above average for this time of year and we don’t see this slowing down any time soon. For this quarter we have negotiated the majority of sales well in excess of the Home Report value. In fact, during Q3 we listed 120 new homes for sale and sold 124.
We are looking forward to the final quarter of the year as viewings and new listings remain steady. We do expect the market to naturally ease over the Christmas and New year period with a renewed busy period early next year although this could well be busier than previous years as people rush to move home.
As our viewing levels remain high, we continue to keep in place extra hygiene measures to ensure our properties can be viewed within a safe environment and we are following government guidelines in order to keep our clients and staff safe.
Notable property sales:
West Whitelea, Pitcairngreen, Perthshire – Offer agreed 10% over asking price
West Whitelea is a substantial detached property set on the edge of Pitcairngreen. It has been extensively refurbished and redeveloped by the current owners to offer an outstanding four bedroom detached family home.
Faire Mhor, Pitlochry, Perthshire – Offer agreed 7% over asking price
Presented to the market in exceptional condition throughout is this architecturally designed four bedroom detached villa with exceptional views over Pitlochry, the Tummel Valley and the Perthshire hills beyond.
The Avenue, Ardargie, Forgandenny, Perthshire – Offer agreed 10% over asking price
An immaculately presented, luxury detached villa, positioned in a prime plot position. Number 5 The Avenue is set in a secluded corner of a exclusive estate within the popular hamlet of Ardargie.