Dumfries and Galloway Property Market Update
Dumfries and Galloway property market data – key points
- From February to July 2022, the average property selling price in Dumfries and Galloway was £185,772 – up 13.8% compared to the previous year.
- During this time, the median time for a property to be placed under offer in this area was 30 days, 27 days faster than last year.
- Across the south-west of Scotland over the past six months, the average percentage of Home Report valuation was 104.9%, compared to 99% last year.
- In this area, the number of new property listings was down 1.2% year-on-year.
Average property selling prices in Dumfries and Galloway
Between February and July 2022, the average property selling price in Dumfries and Galloway was £185,772, a 13.8% increase on the same period last year.
Properties in Kirkcudbright boasted an average property selling price of £240,671 (an increase of 30.6% year-on-year), while those in Castle Douglas achieved an average property selling price of £190,646.
Homes in the town of Dumfries had an average selling price of £184,176 during this time.
Number of homes coming to market
The number of homes coming to market between February and July 2022 was down by 1.2%. We have also seen property listings decrease year-on-year in several other parts of Scotland over the past three months.
This could be because the data is being compared to February to July 2021 where the property market was just starting to properly reopen after several national Covid lockdowns.
Dumfries Town boasted the greatest volume of property sales and new listings, followed by Kirkcudbright then Castle Douglas.
House selling times in Dumfries and Galloway
Demand increased for a home in the Dumfries and Galloway region, with selling times 27 days faster than the previous year. During February to July 2022, properties here had a median selling time of 30 days from coming on to the market, to going under offer.
Homes sold the fastest in Dumfries Town, with a median selling time of 22 days, four days faster than the same time in 2021. Kirkcudbright properties had a median selling time of 33 days.
The property type that went under offer the fastest was two-bedroom houses in Dumfries Town at 24 days, followed by two-bedroom houses in Dalbeattie at 27 days.
Average percentage of Home Report valuation achieved
Over the past six months, houses in the south-west of Scotland achieved 104.9% of Home Report valuation on average compared to 99% last year.
Wigtown properties achieved 122.5% on average (a 20.8% rise year-on-year) while homes in Kirkcudbright and Castle Douglas attained 109.2% and 104% respectively.
Strong demand for homes in Dumfries and Galloway
Paul Hilton, CEO of ESPC, said: “The latest data for Dumfries and Galloway indicates that there is strong demand for properties here. Rising selling prices, decreasing selling times and a higher percentage of Home Report valuation achieved indicate a competitive market, with people moving quickly and decisively to secure the home they want.
“The market here is starting to even out after high demand for properties after Covid lockdowns. Two-bedroom homes were particularly popular in Dumfries and Galloway, showing that the area is popular with first-time buyers.
“I advise those thinking of buying or selling a property in Dumfries and Galloway to contact a local solicitor estate agent to get expert advice.”