TSPC: 3 out of 5 areas in Tayside see dip in property prices

The Tayside property market saw a boom in online searches last year, but many areas saw a dip in prices.

Three out of five areas covered by the TSPC saw a year-on-year decrease in prices, new research has revealed.

On average more than 4,300 people visited the property website every day during 2023. Since the turn of the new year TSPC has also seen the number of property listings increase by a fifth over the same period last year.

The most searched-for areas across Tayside were:

1. Dundee

Dundee was the most searched for area on TSPC.

Topping the list as the most searched-for area on TSPC in 2023 was Dundee, capturing the attention of house hunters seeking affordability and value.

The city’s appeal grew even stronger in the second half of the year, witnessing a remarkable 24% increase in searches on tspc.co.uk.

This surge reaffirms Dundee’s reputation as an affordable and attractive option in Tayside. An average selling price of £155,431 translates to a 4.3% increase on the 2022 market.

2. Broughty Ferry

Victorian villas such as this one are part of the reason Broughty Ferry is always popular. Image: TSPC.

In second place was Broughty Ferry, a location that exudes charm but experienced a 15% decline in searches during the latter part of the year.

The average selling price in Broughty Ferry stood at £245,807, up 1.7% year-on-year, making it one of the pricier places in the region.

Economic factors and increased mortgage rates likely contributed to the dip in interest.

Despite a more subdued market, properties in Broughty Ferry still achieved an average of 2.8% above Home Report value in 2023.

3. Arbroath

Arbroath is a popular seaside location. Image: TSPC.

The largest town in Angus secured the third spot among the most searched locations, offering house hunters a combination of popularity and affordability.

With an average selling price of £160,635, Arbroath and surrounding areas witnessed a 2.8% decline in house prices year-on-year.

Arbroath is a popular location for those looking to live in a coastal setting while also being within easy reach of the amenities and job opportunities offered by nearby Dundee.

4. Carnoustie

Carnoustie is famous for its golf course and beach. Image: TSPC.

The picturesque coastal town famed for its championship golf course claimed the fourth position, capturing the imaginations of those looking for a seaside escape. An average selling price of £194,089 was a drop of 0.9% on the previous year.

Forfar

Forfar, known as the home of the bridie, occupies the fifth spot. It’s location within easy commute of both Dundee and Aberdeen likely boosted its popularity.

Properties here had an average selling price of £165,680 in 2023 which was down 2% year-on-year.