New figures from Tayside Solicitors Property Centre (TSPC) show the average selling price across Dundee, Angus and north Fife rose by more than 10% last year.
During the last quarter of 2024, the average selling price was £183,272, an increase of 10.6% compared to the first quarter of the year.
Meanwhile, the average time to sell reduced to 28 days – seven days fewer than the average time taken in the first three months of the year. There was also a 21.5% increase in properties sold, reflecting growing buyer confidence.
Will this momentum continue into next year? We asked property experts across Dundee, Perth, Angus and Fife for their views on house prices in 2025.
Jim Parker, Fife Properties
Jim Parker, owner of Fife Properties, said demand for properties varies across the Kingdom.
He said the Scottish Government’s decision to increase stamp duty on second homes to 8% had led to an oversupply in St Andrews and the East Neuk.
Meanwhile, Levenmouth and Dunfermline were “hot” markets, benefitting sellers.
He said: “Rising food and drink costs will likely influence the Bank of England to delay base rate reductions.
“This will have a knock-on effect to mortgage costs and affordability, alongside the recent budget which will push up employer costs and prices in April.
“I would still expect house prices to increase on average by 1%-3% in 2025 across the board.
“Higher increases at the lower end will offset a modest decrease at the top end of the market.”
Chris Todd, Lindsays
Chris Todd, partner and head of office at Lindsays in Dundee, also said he expected prices to rise this year.
He said the market is the “most balanced” since the pandemic and so he expects “normal” growth of 4-5%.
He said: “We expect those steadier, more predictable and tradeable conditions to continue during 2025, helped by predicted reductions in interest rates.
“We expect the number of purchases which are subject to the sale of the buyer’s current home to fall as the market returns to a more traditional pattern.
“On sales which go to a closing date, we’ve seen sellers going for the second or third highest offer if it’s chain-free, just so they have certainty over their next step.
“There will, of course, be the odd property which will sell for a premium. We’ve seen that most notably in places like the west end of Dundee and Broughty Ferry.”
Gary Robertson, Possible
Gary Robertson, from Perth-based estate agents Possible, said the Perthshire market had settled down significantly from the “frenzy” of 2021 and 2022.
He said bungalows, family villas within desirable school catchments, ex-local authority homes and unique semi-rural homes performed well last year.
He said: “Perthshire is expected to experience a steady rise in market activity throughout 2025.
“This positive outlook is supported by the stabilising of interest rates, which are projected to fall to 4% or lower by the end of 2025, enhancing affordability for buyers.”
Angela Wallace, TSPC
Angela Wallace, centre and operations manager at TSPC, is predicting a “renewed appetite for moving” in 2025.
She said: “It will be a slow start to 2025 but by early spring I expect to see growth in all areas of the housing market.
“I can see a renewed appetite for moving in 2025 with lower interest rates, a more stable market and a more positive economic climate.”
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