Galbraith: Borders property market booming since lockdown

Galbraith says more than 50 per cent of houses are being sold at a closing date.

Alex Inglis, the firm's head of sales in the Borders, said: “Scotland’s housing market reopened three months ago and there was an immediate rebound in transactions to satisfy pent-up demand.

"This upward trend has continued and over 50 per cent of properties in the Scottish Borders are now being sold at a closing date with multiple offers being submitted in excess of the asking price.

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"The past quarter has proved to be exceptionally active, with sales being achieved in a shorter time frame than at this time last year – 81 per cent of properties we launched to the market since lockdown have now sold.

"In addition, average selling prices are higher, with most achieving in excess of the Home Report valuation due to increased competition between buyers."

Galbraith reports that the most sought-after properties in the region are traditional rural cottages with a private garden or attractive views.

These are selling in some cases within a few days of being launched to the market.

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Meanwhile, the fastest sale recorded this quarter was a single-storey property which received an offer within 24 hours.

Polly Cregan, of Galbraith, said: “The Scottish Borders appeals to buyers for its charming traditional towns, rolling countryside and beautiful unspoilt coastline, with some notable property hotspots including in and around Kelso and Melrose.

"The desire for privacy, space, and a garden have become more important this year, which further fuels the desire for a rural home.”

“The main driver for the market is the increased interest in rural living.

"Due to the prevalence of working from home, a higher proportion of buyers are considering more rural locations as the daily commute is less of a factor.”