Broch property market ‘stable’ say estate agents

Stable: Derek Rennie of McRae and Stephen believes the property market in Fraserburgh is 'stable'
Stable: Derek Rennie of McRae and Stephen believes the property market in Fraserburgh is 'stable'

House prices in Scotland have dropped 3.7% in the past three months.

Figures released by Lloyds TSB revealed that from the month ending July Scottish house prices saw a decrease of almost 4%.

Masson and Glennie: Stewart Duthie, Stephanie Heron and Lynne Wilson at Masson and Glennie who have seen a rise in the number of houses sold in recent weeks.

Masson and Glennie: Stewart Duthie, Stephanie Heron and Lynne Wilson at Masson and Glennie who have seen a rise in the number of houses sold in recent weeks.

But according to Broch estate agents, Fraserburgh’s property market is ‘stable’ and apparently bucking the national trend.

Derek Rennie of MacRae, Stephen & Co told the Herald that houses were still selling well in Fraserburgh.

He said: “The houses that are selling are the ex-council granite-built houses, probably at the high end of £80,000.”

“The market is stable rather than decreasing. We have not had the boom here but we haven’t seen a decrease but they are at a stable price range.

“The main problem first time buyers are having is getting a deposit together. What we are seeing is help from the bank of mum and dad, parents who help out and club together and pay the deposit.”

The Broch is seeing the same as other areas in Scotland with a bigger choice for first time buyers, with the property market becoming a buyer’s market.

Stewart Duthie who heads up the property department of Masson and Glennie said there was choice in today’s market for first time buyers.

He said; “The thing about Lloyds figures is that they have to go by the different types of houses that are sold at that period.

“We have sold more houses in the last few weeks than we had previously.

“Where there are more houses sold, there are more coming on to the market and more choice for buyers, who are trying to get the best price like anyone would do.”

Donald MacRae, chief economist, Lloyds TSB Scotland, believes consumer confidence needs to be restored to resolve problems.

He said: “Consumer confidence remains low due to high levels of retail price inflation in excess of increases in earnings squeezing disposable income.

“The Scottish housing market did experience the normal effect of spring this year on sales and purchases but the impact was muted.

“The Scottish housing market awaits a resurgence of both business and consumer confidence for a faster recovery.