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CLOSING DATES RETURNING TO TAYSIDE MARKET

09 July 2015

TAYSIDE property market experts are detecting a return to the far flung days when homes for sale regularly attracted closing dates.

Before the global banking crisis, it was standard procedure to see houses attracting several bids and Under Offer stickers being applied to For Sale boards across the region.

Now Tayside Solicitors Property Centre manager Lynne Hill is reporting a growing trend towards closing dates, reflecting the buoyancy of the 2015 market.

With sales at the Whitehall Centre at the half-way mark of the year edging towards the 200 million mark, it is clear there is no shortage of buyers eager to make a move, whether they are hunting in the flats sector or looking for a top of the range villa.

The number of properties sold through TSPC legal firms is up 2% year on year, with the average price coming in at 143,342 - up 1.1% in times of little or no inflation in other areas of the economy.

The first half of the year total sales figure at the Whitehall Crescent Centre came in at 195,661,918 a rise of 3.2% compared with the same staging post in 2014.

Lynne said: “These are encouraging sales figures for the first half of year.

“Average house prices are up across the board.

“Many properties are going under offer very quickly and we are witnessing a return of the days when many homes are going to a closing date.

“That is a surefire indicator that confidence is high in the market.

“The price of the average villa comes in at nearly 250,000 this summer, up 5.4%.

“Meanwhile, the flats sector always provides an indication of the health of the overall market.

“And over the first six months we have seen strong demand for flats, with sales of 495 in volume a leap of 16.4% on the first half of 2014 - with the average selling price coming in at 94,571. That represents a rise of 2.5%.”

Nearly 2000 homes have come onto the market since January and the trend is set to continue.

The TSPC manager said: “We are seeing average house prices moving up across the board, with school catchment areas emerging as a key element in property searches for more and more families.

“The outlook remains very positive for the rest of the year.

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