Houses ‘sell within hours of going on the market’

PROPERTY prices are up by more than 10% in parts of Tayside, according to an industry expert.

Solicitors are also reporting that homes in areas like Dundee’s West End and Broughty Ferry are changing hands within days of going on the market.

Some sellers are even receiving offers for houses only hours after they are advertised.

Lynne Hill, manager of the Tayside Solicitors Property Centre in the city’s Whitehall Crescent, has unveiled firstquarter statistics for 2017, revealing that the average price has surged by nearly 11% year-on-year.

She said demand was outstripping supply in some areas, contributing to a hike of 12% in the total value of homes sold through member legal firms.

The TSPC figures showed the average price of a home in Dundee, Angus and northern Fife came in at £148,691, up from £134,191 last year.

Ms Hill said: “Without a shadow of a doubt this is an opportune time for potential sellers to bring a property on to the market.

“The market is very buoyant and we are frequently seeing properties going under offer within days of the ‘for sale’ boards going up and particulars going online.

“They are being snapped up swiftly and buyers spotting a home they like are quick off their marks.

“There is an air of confidence in the market but a shortage of properties in some areas has certainly been contributing to the price movement we have been detecting over recent months.”

The average local villa is changing hands for £266,097, up 3% on last spring, with the average bungalow up nearly 11% at £206,349.

Ms Hill said: “It’s not just the top end of the market which is witnessing strong demand. In the flats sector the average price has jumped nearly 15% over the first quarter to come in at £98,749.

“At TSPC we have had 525 sales totalling more than £78 million since the turn of the year. Average prices are up across all sectors.

“There are plenty of serious buyers out there so if anyone is contemplating selling their home they shouldn’t be stalling. This looks like an opportune moment to grasp the nettle.

“Strong demand for properties in popular areas is being reflected in the prices being realised and our stats show sales are holding up well against last year, despite diminished stocks.”