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Snapshot of the property market

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By Fiona Reid
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Snapshot of the property market

THE average property selling price in Dumfries and Galloway fell 6.5 per cent annually during March-August and is down to £174,029.

Kirkcudbright was the most expensive place in the region to buy a property, with the average selling price here reaching £221,403. Dalbeattie was the most affordable area, as properties here sold for an average of £146,820.

Meanwhile, Moffat experienced the biggest rise in average selling price compared to the same time last year, with a hike of 5.1 per cent, taking the town’s average pricetag to £211,000.

Those were the findings of the ESPC, which have been revealed in their Property Market Report for March-August 2023.

They noted that properties locally went under offer in a median time of 38 days during the six month period, ten days slower than the same time last year.

And homes in the Gatehouse of Fleet area sold the fastest, in 26 days, although on average Dumfries and Galloway homes took ten days longer to sell than previously.

The overall volume of property sales in the region increased year-on-year during March-August, with Dalbeattie and Dumfries town in particularly high demand with house-hunters.

Indeed, Dumfries Town was the most popular area to purchase a home in, and the volume of property sales in this location rose 17.4 per cent annually. This was followed by: Castle Douglas, Kirkcudbright, Moffat and Dalbeattie.

As for house type: three-bedroom houses in Kirkcudbright sold in the highest volumes throughout the region, with the average selling price being £218,628. Meanwhile, the number of new properties being listed for sale in the area increased by a third, with the number of new listings peaking in Castle Douglas at 88.9 per cent.

There were also high levels in Kirkcudbright, Dumfries and Thornhill, but fewer in Lockerbie.

When it came to the selling price, buyers locally chose to bid less over the Home Report valuation than in previous years.

In fact, during March-August 2023, buyers paid an average of 101.1 per cent of the valuation.

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