The property market in Perth has become one of the hottest in Scotland, with homes going under offer in an average of just seven days.
The country’s biggest solicitor-estate agent Aberdein Considine said that the pace in which properties are changing hands is almost unheard of and similar to levels in Aberdeen during peak periods for the oil and gas industry.
The firm’s announcement comes as Perthshire Solicitors Property Centre (PSPC) also revealed an upturn in the local housing market.
Its first quarter sales totalled nearly £30 million with 61 properties being exchanged in March, compared to just 48 the year before.
James McKay, who heads up Aberdein Considine’s Perth branch on High Street, said the spring market in the city had been fuelled by low mortgage rates.
The change from Stamp Duty to a new Scottish system the Land and Buildings Transaction Tax has eased the tax burden on those buying homes below £300,000, making it a true “buyer’s market”.
Mr McKay said the average price of a detached home is now just less than £260,000 in Perth and Kinross.
“As a national firm, we get a good feel for the market across Scotland,” he said.
“What we are seeing in Perth at the moment is the type of market we usually only see in Aberdeen.
“In the north-east it has become usual for homes to go in six to 10 days. However, it usually takes a bit longer in Perth.
“Our average on the market-to-under offer timescale in Perth was just six-and-a-half days in March, which is remarkable.”
He added: “Areas including Oakbank, Viewlands, Craigie, Kinnoull and Scone are particularly popular at the moment.
“Buyers appear to be keen to buy in these areas due to schools, bus routes and access to services. The middle market between £100,000 and £250,000 is particularly active.”
Mr McKay added that low mortgage rates appeared to be the driving factor.
“There is every sign the Perth market will continue to remain active in these areas,” he said.
PSPC manager Anne Begg said: “We are delighted to see, in black and white, the promising sales statistics from the first quarter of the year.”
She said that although March had seen a boost, overall sales for the first part of 2015 were slightly down.
“The good news is that the average price tag being achieved is ahead of this time last year. Values really are holding their own, which is promising for those considering selling up this spring.”
Ms Begg said that people were queuing for the firm’s Help to Buy open morning.
“With winter in the past, we’re seeing lots of evidence that countless people are ready to make a move,” she added.