The Press and Journal (Inverness, Highlands, and Islands)
Moray house prices up by 7.8% last year
Recruitment concerns have been raised after it was revealed house prices in Moray have increased by more than the Scottish average.
Dr Gray’s Hospital has struggled to attract staff to the region for several years. There are worries more expensive homes could make the issue worse.
However, the increase in remote working is also making the region more attractive for people to move away from cities.
New figures released by the Registers of Scotland revealed that average property prices in Moray increased by 7.8% in 2022, with the standard house price now £187,568.
Over the last year, the average sale price of property in Moray increased by £14,000.
The increase is much higher than the Scottish average where prices increased by 5.7% nationally.
Douglas Delaney, estate agent for Grigor & Young in Elgin, believes there’s been an increase in demand for Moray properties following the Covid-19 pandemic.
He said: “Things have been pretty crazy since lockdown ended. You get people moving up from the central belt and England.
“When June 2020 came, people were working from home. I have someone moving up to Garmouth from England, but he can work remotely.
“Lossiemouth has also always been a very popular area, but in recent years Hopeman, Burghead and anywhere along the coast is in demand.
“When people can have a five-minute walk to the beach in the morning, that definitely seems to be the attraction.”
Mr Delaney admitted some properties are used solely as holiday homes and some first-time buyers can struggle to offer the highest bid.
He said: “I had people buy a house last week. They were a young couple, firsttime buyers, and I think this was their fourth or fifth attempt.
“I saw something on the news last year about a village in Wales where there’s only about two locals left because all the properties are being sold to people in England and used as holiday homes.
“I have often thought about that. Will we get into a situation in Moray where you’re not going to want to sell it to just people coming up and jetting back and forth to London?
“People selling a house may want a young couple to get it or a friend of a friend, but ultimately when someone comes along and offers £15,000 more, there’s nothing first-time buyers can do.”
Jeremie Fernandes, councillor for Elgin City North, stressed while house prices continue to rise, Moray’s low-wage economy remains.
He said: “First-time buyers now spend an average of £157,000 on their properties – that’s £32,000 more than five years ago.
“This is unsustainable.” simply