Fri, 01/04/2019 - 12:08
With strong demand for Edinburgh property, it’s a great time to sell. Here’s how to ride the wave of the surging property market.
The latest UK Cities House Price Index shone the spotlight on Edinburgh’s dynamic property market, with prices rising faster than in any other UK city. Latest data from the ESPC echoes this, with strong demand across Edinburgh and the Lothians.
Many people will tell you that in a sellers’ market like this, your home will ‘sell itself’. But not every sale is the same.
Recent research from the ESPC, based on sales in Edinburgh and the Lothians, has shown that selling through an ESPC solicitor agent can net you thousands of pounds more than selling through a non-ESPC agent. On average ESPC agents achieved 106% of their Home Report valuation, while non-ESPC agents achieved 103%.
On top of that, sellers through Lindsays routinely achieve even higher percentages over the Home Report valuation than the ESPC average. Every year since 2013 (stats for previous years aren’t available) the average percentage over the HR value achieved by Lindsays clients has exceeded the ESPC average. 2018 has been no different.
Selling through a solicitor such as Lindsays carries other benefits too. An attraction for many sellers is the fact we have a conveyancing team under the same roof as our estate agency team.
As soon as we know you want to sell, we can set the ball rolling on the legal paperwork. This means we know in advance whether there may be any bumps in the road in terms of title deeds or other documentation, and we can sort them out quickly – avoiding delays, expense or even a lost sale later on.
We can also help you negotiate on your next property, getting the best possible price and purchase conditions – helping ensure that, as a buyer too, you’re best placed to navigate the seller’s market, where demand is outstripping the supply of properties coming onto the market.
Right across Edinburgh and Lothians, we’re seeing strong demand and good sale prices. But demand for some certain areas and types of property is especially strong, according to ESPC data and our own experience.
- one-bedroom flats and other ‘starter’ properties have been in high demand across areas such as Shandon, Dalry, Tollcross and Leith – driven not only by first-time-buyer demand but by buy-to-let and Airbnb rentals
- family homes in good areas and near popular schools continue to attract high demand and command good prices. And as prices and lack of supply persuade families to look further afield for more space, prices of family homes are rising around the City Bypass and South Queensferry too.