Despite many estate agent businesses across the UK experiencing a drop in sales, agents across Tayside and Fife are bucking the trend.
In Dundee, there has been a 23.6% rise in year-on-year sales volumes, while Perth estate agents have performed even better, with a 27.2% increase.
In Kirkcaldy, estate agents saw a 19% increase in year-on-year volume of sales.
That is according to to a study by Homesearch, the data and estate agent prospecting platform.
It analysed its property data to find out which agents in Scotland by postcode area have experienced the best or toughest market conditions
Perth and Dundee in top 10
The increases put Perth in fifth and Dundee eighth in the top 10 performing areas in Scotland. Kirkcaldy placed in 11th.
Top of the list was the Outer Hebrides, the best-selling area for agents nationally.
It has experienced a 62% increase in sales transactions for the same period.
A key part of the study was to identify which postcodes are the most and least lucrative to estate agents.
In Dundee, there were over £815m of property sales generated by agents in the last 12 months.
The research found that Dundee estate agents have seen a 5.5% (£9,065) increase in average house prices year-on-year.
This rise ranks the city in eighth position nationally in terms of the size of the price increase, with 81% of areas across Scotland having seen a positive uplift in sale prices.
The top 10 across Scotland
- Outer Hebrides: +62%
- Aberdeen: +42%
- Edinburgh: +30%
- Renfrewshire: +27.7%
- Perth: +27.2%
- Glasgow: +25.7%
- Dumfries and Galloway: +25.5%
- Dundee: +23.6%
- Inverness: +21%
- Kilmarnock: +21%
Buoyant housing market
Speed of sale is also key to estate agent businesses in Dundee.
Properties take an average of 43 days to sell subject to contract from the date they went on the market.
Homesearch chief operating officer Sam Hunter said the figures show the housing market is strong locally.
“It’s very clear from our data that the housing market in Dundee is buoyant compared to other areas of the UK,” he said.
Sam added: “At a time when house prices have risen significantly in the last 12 months, the challenge facing estate agent businesses – that aren’t experiencing rapid growth – is mainly a chronic shortage of sellable housing stock.
“Those agents will clearly have to work harder than ever to stimulate the market and win new instructions if they are to drive higher sales transactions.”
Mr Hunter said the Homesearch study shows the strength of the market in Perth too.
He said as well as sales up 27%, house prices have increased by £4,945 in the Fair City.
“The market in Perth is also strong, with sales transactions up 27% year-on-year – the fifth highest area in Scotland.
“A key trend we’re noticing from our market data in Scotland is that very few sellers are reducing the price of their property, despite fears of rising inflation and the cost-of-living crisis.
“For the moment, the market is still performing well.”
Conversation