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Angus housing market withstands oil jobs uncertainty

Angus housing market withstands oil jobs uncertainty

Fears Angus could prove vulnerable to the recent air of uncertainty in the oil jobs market have proved unfounded after booming house sale statistics for the area last year.

Carnoustie was a hotspot with more than 150 homes changing hands for a total of £24 million, and Tayside Solicitors Property Centre general manager Lynne Hill said the early 2016 signs are that the area continues to be attractive to buyers.

The falling oil price had raised concerns that the Angus housing scene could suffer adversely.

After sounding out legal firms across the county, TSPC said benefits including swift commuter links to Dundee and Aberdeen continues to entice buyers.

The TSPC, based in Dundee’s Whitehall Crescent, counted 1,073 sales in Angus worth more than £166 million in the region last year.

“We are still seeing buyers seeking value for money considering Angus as an ideal commuting base,” said Lynne.

In Carnoustie, 151 homes changed hands last year with a value of £24 million.

“We are seeing family homes and bungalows up to £300,000 turning over quickly and often in excess of the home report value,” Lynne added.

“There are also reports of an uplift on buy to let purchases before April, when the new tax is introduced.

“In Montrose, the market is also buoyant and we have examples of different types of properties selling within a few weeks of coming to the market.

“Arbroath is also active. Last year total sales in the town topped £35 million, with 262 homes changing hands.

“Since the turn of the year we have received reports of a luxury penthouse selling the same day it came to the market and a detached bungalow going to a closing date within three days. It is all very positive.

“TSPC legal firms sold 214 homes in the Forfar area last year, with a value edging towards the £30 million mark.

“Buyers in the market in the countdown to spring appreciate the fact that most properties change hands for around the asking price but the demand is certainly there and across Angus solicitors are encouraging clients to think seriously about bringing their property on to the market.

“In particular, former local authority homes are sought after, with demand strong up to the £100,000 mark. These tend to move quite quickly,” she said.