St Andrews property market recovery

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ESTATE agents in St Andrews believe the town’s housing market has emerged from the doldrums.

After a difficult few years, local property firms have spotted the green shoots of recovery.

Rollo Davidson McFarlane has reported strong sales over the past few months, with properties fetching good prices.

Paul Gallagher, sales manager for the company, said: “We had an excellent December, which we thought was just a fluke, but it has now been followed by a good January and a very busy February.

“We think we are seeing the start of a sustained recovery.”

Bob Inch, a partner at Rollos, added: “Not only have we been selling more houses, but the prices have been around the home report valuation or above.

“This reverses the recent trend and hopefully means the end of falling prices.”

Those comments were echoed by Shirley Hutchison, office manager at Bradburne and Co.

She told the St Andrews Citizen: “We’ve definitely seen an upturn recently — not just in St Andrews but in the surrounding area too.

“Prices are holding their own, so fingers crossed it lasts.”

The St Andrews property market reached its peak in 2007 before falling away as the credit crunch struck, hitting a low point in mid-2008.

But Matthew Gray, property services director with Pagan Osborne, agreed there have been signs of an upturn recently.

He said: “Our sales in St Andrews have always held up well.

“Having said that, there have been signs of renewed vigour in the market.

“We saw an increase in property sales in February and in some cases sales have been agreed within 48 hours of launching the properties.”

He went on: “Marketing the property at the correct level has been critical.

“Get that right and purchasers and their solicitors respond well.

“We work hard with our clients to ensure that they stand the best chance possible of selling their house at a fair price level and in a reasonable time frame.

“This market takes experience and hard work to achieve sales and people looking to sell deserve to be given sound and honest advice from the outset.

“With this, the market will continue to build momentum.”