House prices surge as Ayr rolls out the welcome mat
House prices across South Ayrshire have seen the biggest rise in cost in mainland Scotland in a year, new figures reveal.
Statistics, published by the UK House Price Index Scotland, show that property prices across the region in October this year were 11 per cent higher than that of October 2019.
The annual price change rose from £ 136,751 in 2019 to £ 151,757 in 2020- showing the biggest percentage change in the whole of mainland Scotland.
East Ayrshire property prices rose from £ 98,412 to £ 105,224- showing a 6.9 percent increase, just above the country’s average change of six per cent.
Bruce Patterson, managing director of Corum Ayrshire, says a shift in the way people work- with the ability to work from home on the rise- as a result of the pandemic- has had a positive effect on the market in this region.
Bruce said: “We’ve always had that Manhattan effect of people escaping the city to the coast, but it’s become much more exaggerated over the last months since the pandemic started.
“Generally speaking it’s been very positive for Ayrshire prices, right up and down the coast. “Some of these sales have been spectacular. “Property prices are 40 per cent lower than some parts of Glasgow, plus there’s the working from home aspect.
“We think the fundamentals in Ayrshire are good for property; low interests rates, mortgage availability is good, Brexit is now passed and agreed, and we should see some stability in the economy once the vaccine has rolled out.”
Bruce, who has been in the housing market for 25 years, added: “I think Ayrshire is undersold. Honestly, it’s the most stunning place.
“As an area it’s fantastic. It’s so diverse; you’ll never get the same property twice.
“We’re broadly positive about property and the market in Ayrshire going forward.”