Tayside Solicitors Property Centre reported an “exceptionally positive” end to 2024.

During the last quarter of 2024, the average selling price across Dundee, Angus, and North Fife increased by 10.6 per cent to £183,272, compared to the first quarter.

The average time to sell reduced to 28 days, seven days faster than during the first quarter. The average ‘percentage over Home Report’ value also rose, as did the percentage of properties sold with a closing date. Overall, there was a 21.5 per cent increase in properties sold in the fourth quarter compared to the first, reflecting growing buyer confidence, with property sales from TSPC solicitor estate agents increasing by 21 per cent and TSPC insertions rising by six per cent.

Reflecting on the year overall, compared to 2023, the average property selling price was £179,126 compared to £178,717 in 2023, with 2,081 homes sold in 2024 compared to 1,724 in 2023.

During 2024, property listings and sales also saw significant growth across several areas.

Broughty Ferry and Barnhill saw a 40 per cent increase in properties sold, while Forfar, Letham, Tannadice, Kingsmuir, and Guthrie experienced the highest average selling price increase of six per cent to £175,699. In Dundee, including Invergowrie, property sales rose by 25 per cent compared to an increase of 33.3 per cent in the Angus areas of Brechin, Edzell, Stracathro and Trinity. North East Fife saw sales increase by 43 per cent, with Auchterhouse, Birkhill, Muirhead, Piperdam, and Liff achieving the highest percentage above Home Report value across all TSPC areas at 3.1 per cent, with the average selling price increasing by 26.3 per cent to £323,468.

Angela Wallace, centre and operations manager of TSPC, said: “It will be a slow start to 2025 but, by early Spring I, expect to see growth in all areas of the housing market, with the possible exception of lower priced properties suitable for rent as there is a decreasing number of landlords willing to continue and are cleansing their portfolios.

“I can see a renewed appetite for moving in 2025 with lower interest rates, a more stable market and a more positive economic climate. I see prices sitting at or around Home Report value and movement within the DD postcode areas to still be over 80 per cent of all movement within our area.”