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'Exceptional' premiums being paid on properties in Moray, says independent property consultancy

By Ewan Malcolm

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THE Moray property market continued to flourish in 2021 according to leading independent consultancy Galbraith.

An energy efficient build on the market in Moray.
An energy efficient build on the market in Moray.

The firm's market review for 2021 showed that a significant boost in sales in the area was driven by two distinct buyer types - those looking for traditional houses and those looking for energy efficient properties.

Property viewings increased by 98 per cent in 2021 compared to 2020 in large part due to the easing of coronavirus restrictions. The Elgin agency team also handled a 38 per cent increase in property sales totalling in excess of £23.1 million.

The firm says that this level of competition resulted in some exceptional premiums being paid including one sale peaking at 51 per cent above asking price.

The review also showed that 40 per cent of buyers last year were from out with the Moray area.

A more traditional build near Elgin.
A more traditional build near Elgin.

Rod Christie, partner and head of the estate agency team in Elgin, said: "Our yearly results are testament to the popularity of Moray as a lifestyle destination. We have seen heightened demand for properties of all types and across all price brackets as buyers recognise the multiple benefits of living in an area that offers something for all home owners be it coastal views, rural living or in-town locations.

"Speyside remains extremely popular as well as properties within a 20-minute drive in and around the towns of Forres and Elgin.

"Our research for 2021 highlights some key differences in buyer preferences and how these have manifested in two distinct markets.

"You have those who are still attracted to traditional period properties whilst there is a very separate market for those perhaps more interested in the energy efficiency benefits and light offered by more contemporary houses.

"On several occasions this year we have marketed properties for sale in both categories, at the same price point and within a short distance of one another and not once did we get a cross over of buyers looking at both properties. Buyers nowadays have a very clear idea of what they are looking for."

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