Summer Property Forecast

Early Summer Property Market Update for the Scottish Borders

As early summer settles into the Scottish Borders, the property market is buzzing with activity. The sunny weather and longer days have injected a fresh burst of energy, making this a vibrant time for both buyers and sellers.

A Surge in Property Viewings

Homebuyers are taking full advantage of the longer daylight hours and improved weather, leading to a notable increase in property viewings. First-time buyers and families searching for homes within the £300,000 price range are currently the driving force in the market.

A Buoyant Market in the Second Quarter

The property market remains robust in the second quarter of the year, with sales continuing at a brisk pace. In May, we saw a rise in the number of properties setting closing dates compared to early spring. Properties going to a closing date with Hastings Legal during this month sold on average for 8.8% over the Home Report valuation.

Negotiations vs. Closing Dates

While sellers often achieve higher prices at a closing date, many choose to use our market knowledge to negotiate offers when they come in at a reasonable level. This approach can provide sellers with reassurances that they have secured a deal, allowing them to budget for their onward purchase. Thanks to the expertise of our dedicated negotiator, Donna, most properties continue to sell above the Home Report value, whether through a closing date or one-on-one negotiation.

Putting some figures to this of the offers agreed in May 2024 those secured without going to a closing date were negotiated on average at over 5% above the Home Report valuation. Combined with the with closing date offers May sales averaged at 7.5% above the Home Report valuation, considerably outperforming the general market.

Find out how a Closing Date works in the Scottish Legal System

Prime Time for Property Listings

Early summer is an ideal time for listing properties. Homes bathed in natural light and gardens in full bloom significantly attract buyers. However, increased market choice means sellers must present their homes at their best to stand out. Hastings Legal offers premium selling packages featuring professional photographs, high-quality video tours, and drone footage to showcase the stunning Borders locations. Combined with our viewing agents, local expertise, and clear communication with our solicitors and property legal experts, we ensure you secure the best deal for your move.

Looking Ahead

As we progress further into summer, the property market in the Scottish Borders continues to show promising signs of growth and activity. At Hastings Legal, we are committed to supporting both buyers and sellers through every step of their property journey, ensuring a smooth and successful transaction for all.

At Hastings Legal, we are here to help you get ahead and secure the best deal possible for your move. Get in touch with us today to find out how we can assist you in navigating the vibrant Scottish Borders property market.