The firm’s office in Hexham reported a 20 per cent increase in sales by volume in 2024, compared with 2023. Average pricing also increased by 56 per cent.

Galbraith, which specialises in rural property, land and farm sales, expects interest rates to hold steady or reduce slightly next year, which will provide a further boost to the market.

Sam Gibson, head of agency for the north of England with Galbraith, commented: “Our sales volume exceeded our forecast for 2024, which was particularly pleasing since it was an election year and there is always a pause in market activity during a general election campaign. The range and quality of property on offer attracted a good deal of interest, including European buyers and British buyers returning from the south of England as well as some returning from the Middle East.  Average prices have been skewed by some higher value farm sales, but it is all positive.

“One notable category of purchaser is the ex-pat Geordie – people like me who grew up here, moved to London or abroad to develop their careers and are then returning to the North East to enjoy a better quality of life. The draw to come home to Northumberland is very strong – the beauty of the scenery and the superb lifestyle provide a winning combination. Usually these are people with young families, which is a hugely beneficial trend for the North East, supporting the schools and maintaining vibrant rural communities.”

The rural property sector provides a range of excellent opportunities for landowners and purchasers, according to Galbraith.

The other factors which underpin demand for rural property in the North East include: easy access to superb countryside for walking or other leisure pursuits, historic castles, traditional market towns, high-quality schooling, the cultural attractions of Newcastle, the region’s economic centre, and 80 miles of superb coastline.

Among the most notable transactions during 2024 was the sale of The Estate House at Matfen, a beautiful home which offered the opportunity for investment to reinstate the house as the key property in the village. Marketed at a guide price of £1,300,000 the Estate House was sold to a buyer from South West England, who is originally from the area and returning to his roots.

Sam Gibson continued: “Next year  we look forward to a buoyant market, with some very special properties due to be launched in January. It is likely that private sales will make up a significant portion of our activity next year, as has been the case this year, particularly in the higher price brackets.”

Galbraith handles the sale of residential and rural property, farms, estates and land from its 13 offices across Scotland and the North of England.