Regular readers of the Advantage Construction Insurance blog will know that we’ve been taking a close look at the fluctuations in the property market in recent months.
Today, we’ve turned our attention to the Edinburgh property market, where activity among both buyers and sellers is at record levels and is showing no signs of slowing.
The Edinburgh News highlighted the current Edinburgh property boom focusing on an interview with Warners Solicitors & Estate Agents.
Between January and March, Warners Solicitors & Estate Agents said it recorded over 250 property sales – an increase of over 40 per cent compared to the same period in 2018 – and brought almost 300 properties to the market.
David Marshall, operations director with Warners, said: “There had been a feeling that activity in the local property market would be subdued in the early part of 2019 as people were expected to wait and see the outcome of Brexit negotiations before deciding to buy or sell. This has not been borne out in reality.
“The rise in the number of homes coming onto the market that we have seen has been the greatest improvement in the market over the last two years.
“In 2016 and 2017 many people were having to delay selling their own home because they couldn’t find a property that they wanted to buy.
“As more homes have become available it has made this problem far less common. Buyers are more often able to find a home that they want, while most sellers are still able to sell their properties quickly.”
Latest figures from ESPC show the average house price in Edinburgh rose by 1.8 per cent during the first quarter, though one and two bedroom flats in popular parts of the Capital have seen prices soar.
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