Dundee’s housing market has much to offer both sellers and buyers this year.
There’s been a positive start to the year in the property market in Dundee and Tayside. Demand continues to outstrip supply at most levels of the market, putting sellers in a strong position, but at same time, the area remains affordable for buyers.
What’s selling?
Among the properties mostly like to sell quickly and for a strong price are those that are move-in ready, without significant work needed. This would suggest there’s a cooling of the nationwide zeal for DIY projects! However, this certainly doesn’t mean that those homes needing a little TLC won’t sell; it’s just that we’re seeing premium prices and fast sales for homes and flats in great walk-in condition. Bungalows are also in demand, partly as a result of older homeowners looking to downsize or avoid stairs, and partly because there’s a finite supply available.
Where’s selling?
In terms of property hotspots, Broughty Ferry and Monifieth continue to draw in the crowds, and we’ve also seen enthusiastic demand for homes in Invergowrie, Birkhill and Muirhead. South of the Tay, Newport-on-Tay, with its lively shops and places to eat and drink, is on buyers’ wish lists, along with Wormit. Within Dundee itself, property prices are standing firm, at all levels of the market, from first-time buyer flats to family houses at around the £300-400k mark. At the Dykes of Gray development, for example, we’ve recently had three homes sell in a week owing, we think, to its convenience for Ninewells Hospital and the dual carriageway.
As for the outlook, the prospects look steady, offering stability for both buyers and sellers. The strength of Dundee’s tech and cultural sectors should help to support demand, both in and around the city.