What lies ahead for the Perthshire property market in 2022?

Gary was recently asked by The Courier to provide some thoughts on what may happen in the Perthshire property market in 2022. Below is his expanded take on what he believes may help shape another positive year for the market in the local area:

Gary: There’s no doubt that the property market will normalise at some point and this bubble of heightened activity won’t last forever. My own thoughts are that it will be a busy start to the year and things will continue as they did throughout 2021.

I also think the strong market conditions may continue in Perthshire a little bit longer than some other areas of the country. Throughout 2021 we saw an influx of buyers from higher value areas such as Glasgow, Edinburgh and south of the border due to change of career, homeworking or just a change in how and where people want to live their lives. Perthshire is blessed with some fantastic scenery and countryside as well as travel links to all the major destinations, which is clearly making it a popular choice for those types of buyers.

The First Home Fund may not be returning this year, but the popular LIFT scheme for first-time buyers has been given more funding for 2022. The price thresholds for this have also been increased in Perthshire and various areas, meaning that many first-time buyers will be in a position to look at a wider range of properties compared to the choice they had in 2021.

For those reasons I think we could be set for another positive year, but I’m not too sure if average prices will increase dramatically. Perhaps a modest 2-3% increase could be expected overall.

Looking slightly further ahead, I think that the market in 2023 will likely be back to some kind of “normal”, but it’s important to remember that the market was still fairly strong before the pandemic before this bubble arose. I don’t believe there will be a crash or sudden dip in the market any time soon, there are no underlying reasons to cause that, more a gradual return to normal levels.

Bringing over 20 years local estate agency experience, Possible are Perthshire's only company who are solely dedicated to selling properties. We cover the entire Perthshire area and over the years have helped hundreds of clients in locations such as Perth, Scone, Bridge of Earn, Auchterarder, Crieff, Blairgowrie, Luncarty, Bankfoot, Pitlochry and everywhere else in between.