March 27, 2019
There is a diverse range of properties within Elgin’s property market, and it’s possible to find houses suited to many different budgets and preferences. Prices in the area have risen 11% over the past year, with Zoopla quoting the average sold property price in the past 12 months (to October 2023) sitting at £195,696.
Like every location, what you can get for your money varies in Elgin. Average sold prices for specific house types are as follows (as at October 2023):
|Detached: £273,001||Terraced: £149,228|
|Semi Detached: £191,261||Flat/Apartment: £105,083|
The future of the housing market in Elgin looks promising, with continued growth and positive prospects on the horizon. The town has been experiencing significant development and investment, which has had a positive impact on its housing market.
Several factors contribute to the optimistic outlook for Elgin’s housing market. The town’s ongoing regeneration projects, infrastructure improvements, and the development of new housing estates are expected to attract more buyers and investors.
Elgin’s proximity to amenities, scenic landscapes, and its growing reputation as an attractive place to live further contribute to its housing market potential. Additionally, the presence of reputable schools and colleges in and around Elgin adds to its allure, attracting families and students who seek quality education options.
As Elgin continues to evolve and grow, it is anticipated that property prices will rise gradually over time. With its ongoing development initiatives, strong community spirit, and attractive location, Elgin’s housing market is poised for a positive future.
However, it is important to note that the housing market can be influenced by various economic factors, so it is advisable to stay informed about market conditions and seek professional advice when making property-related decisions.
With housing prices steadily increasing, getting on the property ladder can seem like an overwhelming task. That being said, with the right help and guidance, it doesn’t have to be a painstaking process.
Whether you need advice on the best places to live in Elgin or you’re a first-time buyer looking for general mortgage advice, we’re here to help.
Offering award-winning services and 100% free mortgage advice, there’s a reason we’re the UK’s top-rated mortgage broker on Trustpilot.
If you need advice for first-time buying in Elgin or Inverness – or if you’re looking for a reliable mortgage broker in the Highlands – don’t hesitate to contact us today.
We’re experts on all things mortgage-related (and our services are always 100% free).
March 27, 2019
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