Homes selling quickly in the Borders

Homes in the Scottish Borders are continuing to sell well, and are quickly being snapped up by buyers.

Thursday, 7th October 2021, 1:40 pm
Homes are being sold much quicker this year than last.

The latest monthly report by property portal ESPC shows that the region proved especially popular with buyers looking for a lifestyle change, with homes here selling in an average of 13 days, 59 days faster than in 2020.

And properties in the Borders also attained 106.6% of their home report valuation, an 8% increase from the previous year.

There was yet another increase in the volume of property sales across Edinburgh, the Lothians, Fife and the Borders, rising 45.4% year-on-year.

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However, this may be skewed by buyers being cautious during the early part of July-September 2020, as lockdown restrictions and schemes such as mortgage holidays and the furlough scheme were still in place.

Paul Hilton, CEO of ESPC, said: “This has been yet another busy quarter for the property market across Edinburgh, the Lothians, Fife and the Borders, with increasing buyer demand in evidence across most of our markets.

“The volume of available properties is returning to where we would have expected to see them pre-pandemic, however, with more buyers searching for homes and less availability on the market, we can expect this to impact average selling prices, the amount over home report valuation properties will attain and the speed at which homes go under offer.

“However, there are higher levels of more affordable homes on the market, meaning that there are still plenty of options for first-time buyers."