Boost for Moray home market as demand outstrips supply

The value of homes in Moray has increased by 5% with the value of properties sold higher than any other part of the north east.

A recovery in the local housing market has also seen demand beginning to exceed supply for the first time in a number of years.

New figures released this week have been welcomed by estate agents, who say that it is another sign of a recovering and growing local economy.

A senior property partner at Aberdein Considine said the rise in property values in Moray was a particular sign of renewed confidence: “The value of sales has jumped by more than 20% in Moray.

“I would put that down to a renewed confidence in the area’s economy after the future of the region’s bases was cleared up.”

A partner at Elgin estate agency Wink & Mackenzie, Ian Davidson, added that the local market in Moray had settled down after the upheaval caused by doubts over the futures of the military bases at Kinloss and Lossiemouth.

He said: “I think it is just that things have returned to normal to a certain extent. There is a general confidence that has returned to the area.

“It has taken a while to work through the backlog of properties that have been on the market and we are now seeing a situation where demand is beginning to exceed supply.”

Leave a comment