Could Perthshire be the UK’s hottest property market? Some areas of Perthshire are showing gains of over 20%.
Despite the cost-of-living crisis and soaring mortgage rates causing a slowdown in the Scottish property market, Perth and Kinross are standing strong. New data from property experts Rettie reveals that house prices in Perth and Kinross have actually increased by 2.3% in the first three months of 2024, compared to a national decline of 0.6%.
Perthshire Hotspots See Prices Rocket
Some areas are even hotter. Auchterarder leads the pack with an impressive 23% surge in house prices. Other top performers include:
- Pitlochry: 22% increase
- Stanley: 19% increase
- Kinross: 17% increase
This data, based on sales registered between January and March, paints a very different picture to the rest of Scotland.
Why are Perthshire House Prices so Resilient?
Alastair Houlden, Director of Country House Sales at Rettie, believes Perth and Kinross are “moving into a sellers’ market”. He points to a shortage of available homes, particularly high-quality properties, as a key driver behind the price increases. This scarcity is creating competition amongst buyers, pushing prices up. In fact, Rettie’s figures show that homes in Perthshire are now selling for an average of £22,000 over the asking price!
More Than Just Bricks and Mortar
However, it’s not just about supply and demand. Houlden emphasises that Perthshire’s lifestyle appeal is a major draw for buyers. The region’s idyllic setting, outdoor activities, and proximity to both the Highlands and city life in Perth itself are attracting those seeking a better quality of life and the option to work remotely.
Perthshire: A Sound Investment?
With an average house price of £247,002, Perth and Kinross sit comfortably above the Scottish average of £214,793. The region’s blend of thriving communities, picturesque villages, and stunning countryside, combined with its strong property market performance, make it an attractive proposition for both homeowners and investors.
If you are considering making a move, Perthshire could be the perfect place to lay down roots and enjoy the best of both worlds.