'Positive' property market reported for Dundee and Angus
The picture in the Dundee and Angus property market continues to improve, new statistics have revealed.
- By James Williamson
- Published in the Courier : 02.09.10
- Published online : 02.09.10 @ 10.41am
Figures from the Tayside Solicitors Property Centre (TSPC) show that 212 homes were sold across the area in August — marginally up on the same month last year.
Prices were also slightly higher than last August at an average of £136,900, although that figure was down on the year-to-date mean of just over £142,200.
The number of homes registered for sale also continued its upward trend, rising by around a quarter to 367.
So far in 2010 every month has seen more for sale signs going up than the equivalent month last year.
TSPC manager Peter Ryder said Dundee and the surrounding area had one of the most "positive" property markets in the country.
"Other areas are under a bit of pressure so the fact that Dundee continues to show a slight increase is positive news," he said. "Registration of new homes is also up significantly and that fact would indicate that there's still a lot of confidence out there about property sales.
"Last year was a very difficult year, so you are comparing it against one of the hardest years we have ever had, but the increases are still significant.
"We speak to other property centres and ours is one of the most positive centres in the country. We've actually had a quite a few new registrations today, which we hope is good news for the coming month."
Mr Ryder said the improving market was all the more encouraging given the "difficult" conditions for first-time buyers.
"It's still difficult for first-time buyers because they are having to come up with a 10% deposit but we've been lucky that that hasn't had too much of an impact on the market," he said.
"It's been like that for a while now so maybe people accept they need a 10% deposit and they are saving harder or speaking more nicely to their mums and dads in order to get their deposits."
He added that prices were rising "manageably" but predicted that they could level off by the end of the year.
Photo used under a Creative Commons licence courtesy of Flickr user Diana Parkhouse.
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