Table of Contents
- Auction Properties in Dundee
- Property prices in Dundee
- Where should you look for auction properties in Dundee?
- Auction Properties in Dundee FAQ
- What kind of auction properties are sold in Dundee?
- 5 reasons to buy auction properties in Dundee
- Conclusion: Buying auction properties in Dundee
Auction Properties in Dundee
Buying auction properties in Dundee, Scotland
Both home buyers and investors are becoming more aware of the benefits of buying auction properties in Dundee. Located on the banks of the River Tay, Scotland’s fourth largest city has a lot to offer from first-class amenities to living costs 10%-20% lower than the rest of the UK. This has been recognised by the ‘Sunday Times’ which has voted Dundee the award of ‘Best Place to Live’ twice.
Traditionally associated with the ‘3 Js’ – (jute, journalism and jam), Scotland’s sunniest city now offers inhabitants job opportunities in industries as diverse as digital entertainment, business and financial services. When considering all these factors, buying auction properties in Dundee makes perfect sense.
Property prices in Dundee
Dundee is a city of extremes when it comes to property prices. The average price of property there varies according to both its size (number of bedrooms) and its condition. Although it is possible to buy property in Dundee for £50,000-£90,000, these tend to be poorly maintained buildings, often former council homes. For inhabitable property, a starter home starts at £110,000, a mid-market property averages at £160,000 while properties at the high end of the market are sold for around £266,000.
Location is another main factor affecting property prices in Dundee. Homes on the waterfront with spectacular views range from £265,000-£400,000+.
Where should you look for auction properties in Dundee?
The wide range of auction property options in Dundee reflect the city’s industrial and commercial past and its rise and fall in economic power. The housing stock includes the imposing former mansions of the jute barons, Victorian/Edwardian terraced houses, post-war semi-detached homes as well as waterside cottages. Many of the larger Victorian townhouses in the city centre have been converted into flats and bedsits.
Our recommendations for those interested in buying an auction property in Dundee are the following areas:
Dundee West End
Stretching to Perth Road in the west of the city, Dundee’s West End is in the centre and provides easy access to the city’s Cultural Quarter with its first-class theatres. Despite its central location, it has a lot of greenery including the city’s oldest park (Magdalene Green). This area appeals to young professionals as well as being popular among students at the University of Dundee. Its housing stock is mainly Edwardian homes, some of which have been converted into flats. Prices range from £190,000 to £240,000.
Located in the west, Menzieshill is a 20-minute bus ride from the city centre. It is especially popular among first-time buyers and young professionals getting their foot on the property ladder. The suburb is half council housing (to the west) and half private housing. The stock mainly consists of terraced houses and modern flats and is considered to be in the lower range of property prices. Menzieshill is a place where you can pick up a cheap auction property (£50,000-£100,000).
Although originally a separate borough, Broughty Ferry was incorporated into Dundee in 1913. Only 4 miles east of the city centre, it is located on the banks of the Firth of Tay with views across to Fife. This waterside location is the reason why property here demands some of the highest prices in Dundee. Its housing stock includes large mansions (with extensive land attached), villas, detached houses, seaside cottages and waterfront flats. Property prices in Broughty Ferry range from £190,000 (for a waterfront flat) to £425,000+ for detached homes.
The industrial past of Lochee mean that community ties are strong in this suburb two miles west of Dundee. Its easy access to the city centre and affordable housing make this area ideal for young professionals and first-time buyers. The housing stock consists of terraced houses, some semi-detached houses and bungalows, studio apartments and flats. Prices for flats are £70,000-£108,000 while a 3-bedroomed bungalow can be purchased for £160,000-£190,000.
Although located in Fife across the Tay estuary, Tayport is a popular town for those working in Dundee. Commuting time is about ten minutes by car across the Tay Road Bridge. With a harbour and stunning views of the Tay and out to sea, Tayport is also close to Tentsmuir Reserve and Forest. For this reason, it is popular with families and those who want to get away from the city. The housing stock in Tayport consists of some modern flats and terraced houses, semi-detached houses and larger detached houses/villas. You can expect to pay £140,000-£150,000 for a flat, around £240,000 for a semi while detached houses/villas are £200,00-£500,000.
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Auction Properties in Dundee FAQ
How can I find auction properties in Dundee?
Property auctions in Dundee are advertised in the local press and in the property brochures of local and national auction houses. Filters allow you to narrow down your search among all the different types of property put up for auction in Dundee.
How much are auction properties in Dundee?
The average price of auction properties in Dundee is £128,000. However, some areas have homes for sale for under £90,000 while large detached homes in areas like Broughty Ferry can cost in excess of £400,000.
Which areas are best to find auction properties in Dundee?
The West End, Menzieshill, Broughty Ferry and Lochee are the best places to look for auction properties. Tayford is in Fife, but it is very close to Dundee, so this is another location to look at.
Can I buy repossessed properties sold at auction in Dundee?
Yes, repossessed property is frequently in and around Dundee. If they remain unsold by an estate agent, then repossessed properties will be put up for sale at a local property auction.
What kind of auction properties are sold in Dundee?
With the full range of residential, commercial and industrial auction properties in Dundee, there is something to fit all personal preferences and for every budget. Our recommendations are as follows:
Investment properties in Dundee
In terms of age, Dundee is a relatively young city with nearly a quarter of its population (24%) aged 16-29. With two universities (the University of Dundee and Abertay University) plus Dundee and Angus College making up a student population of over 20,000, there are plenty of opportunities for investors interested in a buy-to-let auction property. The areas to look at are near the University of Dundee (around Perth Road and Blackness) or in north and east Dundee.
The housing stock in these areas consists of traditional tenement buildings, terraced housing and some semi-detached houses. Before buying an investment auction property in Dundee, you should make sure you are familiar with the Scottish equivalent of stamp duty (the LBTT) and Scottish tenancy laws. Dundee Council runs a landlord registration scheme.
Cheap properties in Dundee
It is quite possible to buy a cheap auction property in Dundee for under £100,000. One area to look is within the DD3 postcode 5 miles north of the city which incorporates areas such as Hilltown, Dronley, Bridgefoot and Downfield. Another area where you are likely to find cheap auction properties is in the DD4 postcode. This covers an area about 5 miles north-east of Dundee including Craigie, Tealing and Maryfield.
Commercial and industrial properties in Dundee
With a population of 160,000, Dundee is busy enough to support a business but without the cut-throat competition you would expect from larger cities. Retail properties or office space can be purchased for £50,000-£100,000, but you should do some market research beforehand to check the best location for your needs. At the other end of the scale, industrial properties (such as in Dundee’s Dunsinane Industrial Estate) cost £200,000-£1 million depending on the size of the unit.
5 reasons to buy auction properties in Dundee
The friendliness of Dundonians
Dundee has been called the ‘world’s biggest village’ because of the friendliness of its inhabitants. There is a strong sense of community, and people are always willing to have a chat or give a helping hand.
Entertainment facilities in Dundee
From theatre to Dundee’s Contemporary Arts (DCA), the range of cultural facilities available in Dundee is outstanding for any city, let alone a city of its size. With ice skating, fishing and golf at St Andrew’s nearby, there is a wide range of indoor and outdoor sporting activities for those who are more energetic.
The beauty of Dundee
The views from the top of Dundee Law across the Tay estuary and its eighteen city parks are two of the reasons why Dundee is a beautiful city. Since the city won the UK’s first UNESCO City of Design (2014), a £1-billion regeneration of Dundee’s waterfront area has got underway which will improve the city even more.
The location of Dundee
80% of Scotland is within a 90-minute drive of Dundee. Not only does this make cities like Edinburgh easily accessible but the breath-taking scenery of the Highlands of Perthshire can be reached in only an hour.
The size of Dundee City
Dundee is the ideal size for someone who enjoys an urban lifestyle but does not want to feel stifled by too many people. Dundee’s city centre is compact enough to be navigated on foot, so you do not have to worry about parking nor taxi fares. This makes buying a home in the city very attractive.
Conclusion: Buying auction properties in Dundee
If you are keen on buying a property at auction in Dundee, there are a wide variety of types and sizes to choose from. If you are relocating for personal or professional reasons, it is worth taking your time before choosing an area in the city which suits you. Unlike other larger cities in the UK, everything – from retail outlets to evening entertainment – is in a relatively confined area, so you are never far from where you want to go. This easy access along with the safety and friendliness of Dundee are just some of the reasons why it consistently tops the polls as one of the best places to live in the UK.