This is a concern prevalent in many parts of south west Scotland and one to which there is no straightforward solution. The last few years have also seen The Machars area’s property market benefit from a significant influx of people being drawn into the area from England. In any case he likewise is by all accounts under the misguided judgment that reward depreciation moves us more distant far from that uniformity, the equity that would speak to rectify approach. It really moves us closer.
In one recent example, such a property in very poor condition attracted some 11 offers and sold for £50,000 in excess of the asking price. Meanwhile, the residential property market in Stranraer has been particularly active over the last twelve month period. This can most probably be attributed to interest rate levels falling to a historically low level which has stimulated demand through the property market, from first time buyers to the top tier of houses which, in Stranraer typically comprise of three or four bedroom detached bungalows situated in the west end of the town.
In today’s market such homes, which were mostly built in the 1960s and 70s, would tend to be advertised at offers over £125,000. Whilst the lower end of Stranraer’s property market, which is generally made up of ex-local authority housing, is reasonably active with a healthy level of demand from first time buyers, the mid-section of the market, where houses would be expected to sell at prices between £60-£80,0000, suffers from a lack of available properties.
There is only a limited amount of new building developments taking place within Stranraer, largely as a consequence of restricted availability of land in reasonable locations, and this has served to stifle the mid-section of the local property market. The town, with a population of some 12,000 – about 1000 of who are employed, either directly or indirectly, by the Stena Line ferry – would benefit greatly from significant investment in the upgrading of its surrounding infrastructure.