Harriet Simpson - Head of Sales, Fine & Country South Scotland
Born in Edinburgh and having worked in the premium property markets in Edinburgh, North Berwick and Cumbria, I now live on a farm on the outskirts of Lockerbie with my fiancé, daughters and stepdaughter. I was relatively new to the area three years ago, and now couldn’t imagine myself anywhere else. The stunning scenery, friendly people and access to the coast are some of my favourite things about Dumfries and Galloway so it is easy for me to sell the area, rather than just the house, when I meet potential buyers during viewings.
I head up the sales for Fine & Country South Scotland, covering the premium market across Dumfries & Galloway and the Scottish Borders. With nearly twenty years of experience, I can offer professional advice and a helping hand, whether you are looking to buy or sell.
Market Update
The market has been unprecedently active since Covid hit in 2020 but there has been much speculation recently over how the housing market will react to challenges in the wider economy. Significant changes in the financial market, the increased cost of living and rising energy bills have raised the question around future mortgage rates and whether now is a good time to buy a house.
It is generally expected that we will see further interest rate rises in 2023 – though perhaps not as significant as initially expected. The property market in Dumfries and Galloway has traditionally remained robust, having weathered previous financial turbulent times well and the latest data indicates that there is still strong demand for properties. The market has started to even out after high demand for properties after Covid lockdowns, but we are finding that demand is still outweighing supply overall. I would advise anyone thinking of buying or selling in the area to contact us to get expert advice, especially as what you see on the news isn’t always accurate! The national press continues to talk about prices falling, but we have seen no evidence of this. What we have seen is a direct effect on some buyers who have had to recalibrate their calculations to ensure that mortgage payments are affordable. The UK is a patchwork of local markets each with its own unique dynamics. That is why it is important to get reliable property market information locally, from those of us working at the forefront of the market here.
Moving home takes a lot of consideration, particularly when you are looking to relocate to a new village, town or even county. There are benefits to living in a city versus the countryside and whilst a city offers a vibrant lifestyle and plenty of job opportunities, the reality is that there is a strong chance that a property in the countryside will offer you a larger property for a lower price.
We have seen exceptional demand from buyers looking in Dumfries and Galloway over the past couple of years, with D&G being voted as Scotland’s second most popular holiday destination in 2021, partly due to those enjoying a ‘staycation’ in between lockdowns. The historic town of Moffat topped the list of ‘trending’ locations, along with Thornhill and Dumfries.
There is no right/wrong time to buy or sell a house. Whether it’s a good idea will depend on your circumstances. Please get in touch with us for a friendly chat; we offer no obligation market appraisals.