The Perth and Kinross area offers some of Scotland’s most beautiful scenery, world-class walking, fishing, golf and overall a fantastic quality of life. The region is also renowned for its cultural and sporting events and for its heritage and historic sights, which include Scone Palace, where Scottish Kings were crowned. It has a wonderful mix of communities and a diverse range of properties in which to live, including the bustling city of Perth, lovely rural towns, picturesque villages, steadings and stunning farms and estates. In a post-pandemic world, where working from home has become mainstream, it should come as no surprise that house price growth and demand for properties in the region remains strong.
Perth and Kinross peaks above Scottish average.
The Perth and Kinross property market has remained resilient through the recent challenging market conditions. The latest average house price figure for Perth and Kinross in Q1 2024 is up 2.3% on the same period last year, against a 0.6% increase seen nationally.
Constrained supply of quality homes is a factor in fuelling this growth, with transaction volumes down 4.2% in the same time in Perth and Kinross. With constrained supply, and demand picking-up, Perth and Kinross is moving into a sellers’ market, with Rettie transactions in the area achieving an average of £22,000 above the asking price over the last 12 months.
In light of this encouraging local property climate, we’re always here to help. For a free no-obligation market appraisal of your property and to take advantage of our unique local knowledge, please contact me directly.
Best wishes,
Key Findings
Prices remain high
Average house prices in Perth and Kinross have risen 2.3% year-on-year for Q1 2024. This is in contrast with a 0.6% increase across Scotland.
Contrained supply
Demand for property in Perth and Kinross is strong, with competitive closing dates and offers over Home Report valuations common
Attractive lifestyle
The gateway to the Highlands, and an attractive location for outdoor activities. Perth and Kinross presents a great lifestyle proposition.
Key findings explored.
Prices Remain High
Despite the challenges facing the national market, many areas of the Perth and Kinross housing market have seen strong house price growth in the last year.
Contrained Supply
Since the start of 2024 transactions have dropped back in the Perth and Kinross area, with sales volumes dropping by 4.2% in Q1 2024 compared with the same period in 2023. Nationally, transaction figures for Q1 2024 have seen an increase of 1.2% compared with Q1 2023, after a busy March helped to boost figures.
This is helping to push up property prices as it is making the market more competitive for purchasers. A number of our sales in the region continue to deliver very competitive closing dates and offers well above Home Report valuations. This is particularly the case for the most desirable properties.
Attractive lifestyle
One of the most attractive qualities of Perth and Kinross is the range of lifestyle options available within the region. The region boasts an abundance of lochs, rivers and to the north, the stunning scenery of the Cairngorms National Park. This beautiful environment offers wonderful opportunities for golf, watersports, shooting, fishing, hillwalking and a range of other recreational activities.
Combine this with a wealth of good schools and excellent transport links and it is no surprise that there is strong demand in the local market, particularly from those looking for a better quality of life or an idyllic location from which to work remotely.
A great place to live (and sell).
The trends detailed above highlight the fact that Perth and Kinross is an enduringly popular place to live – a region that has a strong and healthy local residential market, with limited supply pushing up prices and increasing competition for available homes.
To find out more, or for a free no obligation market appraisal of your property, please do get in touch with our Town & Country team, on 0131 624 4183 or townandcountry@rettie.co.uk
Lead Researcher
Alastair Houlden MRICS
Published: 12 Jun 2024
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