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Moray property market booming as local estate agent’s sales top £23m

Local estate agents Galbraith says homes are in-demand across Moray. This photo shows Birkenbaud View, one of the homes currently on the market in Elgin.
Local estate agents Galbraith says homes are in-demand across Moray. This photo shows Birkenbaud View, one of the homes currently on the market in Elgin.

Demand for property in Moray is soaring, with one local estate agent recording over £23.1m in sales last year.

Period properties and contemporary homes were the most desirable among buyers at Galbraith estate agents in Elgin.

The team, based in Commerce Street, experienced a 38% increase in property sales in 2021 compared to the previous year, with the total value of sales exceeding £23.1m resulting in an average selling price of £409,398.

Viewings also went up by a massive 98% last year, with this level of competition resulting in some exceptional premiums being paid for the most attractive properties, one sale peaking at 51% above the asking price.

Research by Galbraith show that buyers are not only looking for a property but a complete lifestyle change. Pictured is Denmoor, one of the beautiful homes on the market in Elgin.

Boom in sales

Interestingly, 40% of purchasers throughout 2021 were from outwith the Moray area.
Rod Christie, partner and head of the estate agency team in Elgin, says that the figures show that people are not only looking for a home but a complete lifestyle change.

“Our yearly results are testament to the popularity of Moray as a lifestyle destination,” said Rod.

“We have seen heightened demand for properties of all types and across all price brackets as buyers recognise the multiple benefits of living in an area that offers something for all home owners, be it coastal views, rural living or in-town locations.

“Speyside remains extremely popular as well as properties within a 20-minute drive in and around the towns of Forres and Elgin.”

Property sales are soaring across Moray. Pictured is Denmoor, one of the beautiful homes for sale in Elgin which comes with a log cabin as shown.

Old and new properties

Two “distinct” property markets have also emerged with buyers looking for either traditional homes or modern properties.

“You have those who are still attracted to traditional period properties whilst there is a very separate market for those perhaps more interested in the energy-efficiency benefits and light offered by more contemporary houses,” added Rod.

“On several occasions this year we have marketed properties for sale in both categories, at the same price point and within a short distance of one another, and not once did we get a cross-over of buyers looking at both properties.

“Buyers nowadays have a very clear idea of what they are looking for.”

Buyers are attracted to Moray due to its breathtaking landscape. Pictured is the view from Birkenbaud View, which is on the market in Elgin.

Properties on the market in Elgin include Birkenbaud View, an impressive detached house located in a highly desirable position at Wardend.

With five bedrooms, breathtaking views and extensive grounds, this energy-efficient home, priced at £575,000, is bound to attract plenty of interest.

People are attracted to Moray for its beautiful homes and its wonderful countryside setting. Pictured is an interior shot of Birkenbaud View.

Another property attracting viewings is Denmoor, a magnificent family home located in an accessible rural position south of Elgin, which is on the market for £490,000.

This property boasts three reception rooms, six bedrooms, generous garden grounds and a superb log cabin complete with a bedroom, sitting room with wood-burning stove and an adjoining shower room.

Modern homes are very much in demand. Pictured is Denmoor.

To arrange a viewing contact Galbraith in Elgin on 01343 546362 or go to the website.

 

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