No Brexit effect in Fife as property sales continue

Property consultancy Galbraith says uncertainty surrounding the UK over the issue of Brexit isn’t affecting the housing market in Fife.

It reports strong demand and sustained activity in the Fife property market despite the tumultuous political situation on a national level.

The firm’s sales analysis for its most recent quarter shows an increase in sales of 22.7% year on year and a rise in prices of 2.35% year on year on average in Fife.

George Lorimer, who leads the sales and lettings team for Fife, reported no change to the level of activity in the area.

He said: ‘It’s very much business as usual.

‘The anticipated Brexit slowdown just hasn’t happened in Fife. Sales are concluding rapidly in most cases, particularly in the £400,000 to £600,000 bracket.

‘Sellers are feeling confident enough to put their homes on the market – there has been an increase of 44% in terms of properties coming on to the market and the number of property appraisals we carried out also increased by 17.2% year on year.

‘This shows the strength and depth of confidence in the market in Fife and that life continues no matter what the politicians decide.

‘Fife has a flourishing property sector for a number of reasons. Firstly the proximity to the thriving cities of Dundee and Edinburgh is convenient for commuters and the transport infrastructure has improved significantly in recent years.

‘Secondly the lovely architecture of the region is very popular. Traditional house styles are usually snapped up very quickly whenever they become available – for example traditional Scottish stone-built farmhouses and cottages, converted agricultural buildings and the charming coastal crow-stepped gabled house style typical of the East Neuk.

‘Thirdly and perhaps most importantly, Fife offers an outstanding quality of life. Living close to St Andrews, one of Scotland’s most beautiful towns offers wonderful opportunities to visit the historic buildings and museums not to mention the superb golf courses in St Andrews and across Fife.

‘The region also has beautiful beaches, attractive countryside and good opportunities for outdoor pursuits in the Lomond Hills and elsewhere. The East Neuk villages are perennially popular, with properties in Elie, Anstruther and Pittenweem particularly prized.’

Galbraith reports that sales from its Fife office concluded more rapidly than almost all other regions of Scotland. The average time taken to sell decreased by 27% year on year. Property viewings by house-hunters increased by 19.2 % compared with the same period in 2018.

Galbraith handles the sale of properties worth £11.7m on average from its Cupar office and worth £51.7m on average per quarter across Scotland as a whole.