Estate agents Lindsays says it overcame the impact of political unrest to secure almost £70m worth of house sales across Tayside in 2023.
The firm, which added operations in Perth and Crieff to those in Dundee, sold properties totalling £67.9m during the year.
The total has been hailed a significant success in the face of what they describe as a “long hangover” from former chancellor Kwasi Kwarteng’s emergency budget of 2022 and of the nervousness caused by rising interest rates and the cost-of-living crisis.
Tayside hot spots for property
Chris Todd, who leads Lindsays in Dundee, said there are signs of an improving market as we enter 2024.
The view that stability will return to the market, unlocking more activity, is one shared with other estate agents in Tayside and Fife who have made their 2024 Tayside house price predicitons.
Mr Todd said: “There can be no doubt the impact of political actions created real challenges in the market. People were more nervous about buying and selling as interest rates rose.
“Yet we saw the picture improve. People adapted and things became more stable as we moved through 2023. There are signs of that stability sticking during 2024.
“There are certain patches in the market locally which are performing reasonably well.
“These include the west end of Dundee and Broughty Ferry albeit without those huge offers over valuation which we saw in the aftermath of the coronavirus pandemic.”
Lindsays targets Perth sales after merger
Lindsays brought the estate agency business of Miller Hendry – and the addition of offices in Perth and Crieff – into its fold following the merger of the two firms in May.
And it hopes to grow its housing market presence in Perthshire over the course of the next year.
Partner Andrew Diamond is Lindsays’ head of Perth office and head of residential property.
He said: “What the last 15 months or so has reminded us, is that political decisions have a real impact on peoples’ lives and can be long-lasting.
“The consequences of the emergency budget are a prime example of that. There’s always a time lag in that hitting the market.
“We look to build during 2024, particularly as our name becomes more familiar across Perthshire.”
Combining sales through its Edinburgh estate agency team, 2023 was a record year in terms of total sales values for the whole Lindsays firm at £174m.
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