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Tayside property market has ‘good news for sellers and buyers alike’

Peter Ryder.
Peter Ryder.

Tayside property sales exceeded £340 million during 2013, and experts predict 2014 will be a “good year”.

According to the Tayside Solicitors Property Centre (TSPC), 2,499 homes changed hands across the region, marking a return in confidence to the market.

Peter Ryder, chief executive at the Whitehall Crescent Centre in Dundee, said the figures meant good news for buyers and sellers in 2014.

“We witnessed a very strong market from April onwards, with most properties selling at around the Home Report valuation,” he said.

“Properties across the price range have been finding buyers and it bodes well for the year ahead.”

Total sales leapt from 2,247 in 2012 to nearly 2,500 last year.

Mr Ryder said: “We clocked up an impressive £341,366,463 sales at the TSPC over the last year, an increase of nearly 10% in value year on year.”

The average property price across the region now stands at £136,601, which has fallen from the average of £139,012 in 2012.

However, Mr Ryder said the fall was influenced by resurgence in the sales of flats and first-time buyers returning to the market.

“Assuming that mortgage funds remain available and that is vital to the health of the property market going forward we would expect to see another increase in the number of properties being sold in the year ahead,” he said.

“House prices may rise slightly in the Tayside area, but we will not see the larger increases that are being experienced in London and the south of England.

“The good news is that sellers and buyers alike enjoy a market where stability is the key factor, rather than finding themselves vulnerable to unsustainable swings.”

The statistics show a strong demand for bungalows, with a 25% rise in the number of sales.

Detached villas were also up nearly 17% in volume, while more than 800 flats changed hands last year a rise of nearly 9%.

Mr Ryder said: “We expect 2014 to be a good year as there are plenty of potential buyers out there and confidence in the market and the economy appears to be returning.”