Re­search shows prop­erty mar­ket surg­ing in Argyll

The Oban Times - - News - MARTIN LAING mlaing@oban­

THE HOUS­ING mar­ket in Argyll and Bute is buoy­ant with a sig­nif­i­cant rise in the num­ber of prop­er­ties chang­ing hands.

Ac­cord­ing to new re­search from the Reg­is­ters of Scot­land (RoS), there was a jump of 24.5 per cent in the vol­ume of sales in the area for April to June this year, the first quar­ter of the 2016/17 fi­nan­cial year, com­pared to the same pe­riod in 2015.

The fig­ures show that 462 prop­er­ties changed hands in the quar­ter, com­pared with 371 for the same time last year. The num­ber also rep­re­sented a 37.1 per cent surge over the Jan­uary to March pe­riod this year, when 337 homes were sold.

Ac­cord­ing to the RoS data, the av­er­age price of a prop­erty in Argyll and Bute be­tween April and June this year was £151,658, a slight dip of 0.2 per cent com­pared to the same quar­ter in 2015 but 2.9 per cent up on the £147,365 reg­is­tered for Jan­uary to March.

The RoS re­search also showed the av­er­age price of dif­fer­ent house types in Argyll and Bute. From April to June 2016, a de­tached home fetched, on av­er­age, £213,808, a semi-de­tached £129,028, a ter­raced home £124,675 and a flat £104,630.

The to­tal value of prop­er­ties traded was up 24.3 per cent to £70,065,820 for the lat­est quar­ter, way ahead of the £ 56,353,776 to­tal for the cor­re­spond­ing 2015 fig­ure and 41.1 per cent up on the £49,661,991 for Jan­uary to March.

The sta­tis­tics were wel­comed by Katie Lamont, di­rec­tor of prop­erty at Oban-based es­tate agency MacPhee and Part­ners, who said: ‘These fig­ures are very en­cour­ag­ing and I’m pleased we have also seen an in­crease in the vol­ume of prop­erty sales for the first quar­ter of 2016.

‘I had con­cerns that with the new Ad­di­tional Dwelling Sup­ple­ment, the mar­ket would slow down. How­ever, the surge which we wit­nessed prior to April 1 2016 con­tin­ues for the time be­ing.

‘Un­like the RoS re­port, our fig­ures from the av­er­age house sale price have in­creased from our first quar­ter this time last year.’

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