Property prices across Tayside fell in 2016 but have started to bounce back after uncertainty over Brexit.
Tayside Solicitors Property Centre in Dundee reported a significant jump in the number of sales and average price of villas, as well as a 7% year-on-year increase in the number of homes brought to the market compared to October, November and December 2015.
Overall for the year, the average price of property dropped 0.6% compared to 2015 to £145,595.
Centre manager Lynne Hill confirmed that the market had come back from a sluggish start of the year to finish strongly, and highlighted villas as a particularly strong performer.
She said: “After a period of initial anxiety in the wake of the Brexit vote the Tayside market is showing a greater level of confidence going into the New Year, with many buyers on the lookout for good quality properties.
“That, allied to the surprisingly mild weather we have experienced so far this winter, means potential sellers should be grasping the nettle and pressing ahead with plans to bring properties to the market sooner rather than later.
“Drilling down into the full annual stats compiled by our members, the market clearly picked up and finished strongly, with November alone seeing a 20% leap in the number of registrations at the centre.
“We saw 626 homes brought to the market during October, November and December, up 7% on the corresponding period for 2015, which bodes well for the year ahead.”
Reflecting on the past 12 months, Lynne said: “While there was little change in the average price overall, the picture was very different at the top end of the market, where the price of the average detached villa, coming in at £256,541 jumped 5% compared with the previous year.
“Demand in this sector has been very noticeable, with 1317 villas changing hands in 2016, with a total value of over £231 million.”
Although 1000 flats changed hands, a poor beginning to the year contributed to a 3% dip in the average price to £94,159.
Lynne added: “Concerns prompted by the referendum may well have played a part in this but the tide should now be turning.”
