Latest figures released by property consultancy Galbraith supports a promising summer season for the Scottish Borders property market.
During the first quarter of the year (Q1 2025 January – March), the Galbraith residential team in the Scottish Borders handled 67% more property sales than the equivalent period last year. The average percentage achieved over the asking price was 3.2% with 202 property viewings conducted and 43 market appraisals carried out.
In particular, the smallholdings market in the Scottish Borders – property with land up to 50 acres in size – has been in high demand with sales performing well and achieving an average of 8.8% over the asking price. This is up from 3% achieved during the first quarter of last year.
Susan Guthrie, associate for Galbraith in the firm’s Scottish Borders office, says: “Our figures for the first quarter of the year are hugely encouraging and indicate an active summer ahead with a healthy stock of properties being launched.
“Throughout Spring we have witnessed an increase in the number of viewings with competitive offers being made and sales completing at offers over the asking price.
“There are a mix of active buyers in the market place, with those looking for properties in move in condition as well as those keen on taking on a project, and properties with a good portion of land are always in high demand.
“We are seeing more buyers coming forward due to mortgages becoming more affordable as interest rates have fallen. Notably, local first time buyers coming through have helped stimulate the market with lending in place and not being reliant on a sale to move forward. On average, sales are now being achieved within six to eight weeks.”
Guthrie says buyers have also been attracted to the Scottish Borders from outside the area, including Edinburgh. These typically work from home or have an easy commute via the Borders Railway.
She adds that being able to relocate to take advantage of the value for money and the semi-rural lifestyle on offer in areas like St Boswells, Melrose and Maidenhall has had a big impact on property sales in the area.
