PROPERTY SALES UP A QUARTER IN FIRST QUARTER
Conveyancing solicitors and estate agents in Tayside have reported a 26 per cent rise in property sales in the first quarter of 2012.
Sales totalling £75 million have been confirmed in the three months to the end of March, as local solicitors sealed deals for 489 properties, a significant increase on the corresponding figure last year of 387, according to Tayside Solicitors Property Centre.
TSPC manager Peter Ryder described the first quarter statistics as good news for buyers and sellers alike.
He said: "Each month of the first quarter has shown a significant increase compared to the last year. The overall sales figure is up by 26%.
"It's clear that more properties are selling because clients are now being more realistic with their expectations and asking prices."
The average price of properties sold through the centre is on the up Mr Ryder believes that is down to an increase in activity in the mid-range market, covering the spectrum £150,000 to £250,000.
The first-time buyer market has also held firm but property market observers are now hoping for movement in that sector.
Mr Ryder said: "House prices remain on similar levels to last year when we are comparing like for like properties. The average price is around £152,000."
There has also been a 15 per cent rise in the number of properties coming onto the market through the property centre, with 857 registrations confirmed, compared to 747 last year.
Mr Ryder added: "Again, every month this quarter has shown an increase compared to last year. This is very encouraging as it proves people are more optimistic that they will sell their property compared with last year.
"This could be the start of a feel good factor and the quarterly sales stats certainly give us grounds for optimism going forward.
"I would say we have enjoyed a very solid start to the year and we would expect this trend to continue into the second quarter."