Rural Property Boom Evident In Life

As the UK continues to work from home during the pandemic, a trend that is likely to continue even after the current crisis has passed, there has been a noticeable shift in people wanting to relocate to rural areas, no longer confined by commutes to work.

Few places have seen this boom in rural property than in Fife, with Fife Today reporting that one homeowner in the area accepted an offer for his property £200,000 over the asking price, another property selling in just three days, and another looking at 13 different offers.

Property consultancy Galbraith reported that there had been ‘intense competition between buyers’, with many properties attracting offers way above the asking price.

Dominic Wedderburn, Galbraith’s head of residential agency for Fife said that since spring, there had been a massive increase in the demand for rural property all over Scotland.

“In Fife, this trend is very much in evidence and we are fortunate that we can also offer proximity to Edinburgh and St Andrews, two of Scotland’s most beautiful historic centres. You can live in a completely idyllic, quiet village and still be in Edinburgh in an hour and a quarter,” he said.

“Prices in Fife are increasing, but rural property remains considerably less expensive than in St Andrews or Edinburgh itself, another major advantage for buyers.”

Sales figures for the third quarter of 2020 show that in Fife, 74 per cent of the buyers were from within Scotland, 21 per cent were from the rest of the UK, and around 5 per cent from overseas.

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