Clyde Property Edinburgh – Bucking the Trends in 2018
Here at Clyde Property Edinburgh, over the last 12 months we have seen a continuation of buyer demand outstripping the supply of new properties to the market. This has resulted in sales prices never being higher in Edinburgh’s buoyant market.
Bucking the market trends
Overall during Q4 of 2018 there has been a 5.5% decrease in properties being brought to the sales market in east central Scotland compared to the same period last year. However, we have increased our listings by a healthy 20.5% in 2018 compared to the previous year as our brand becomes even more established and our marketing packages and service to clients grow in reputation.
HD Property Video, longer opening hours and a strong social media presence and a sponsored social media campaign for every property we sell has proved to be extremely popular with our clients, delivering a service unavailable anywhere else. Due to these marketing techniques and a hardworking team, we have seen a further 5% increase in prices being paid this year.
We are still seeing a lot of buyers wanting to offer on a new home before they list their own property. This further fuels the under supply. A popular strategy is the purchase of new build property as buyers know the price they are paying for their new home and not entering into a competitive closing date. We are assisting many clients once they have secured their new home, allowing them to really take advantage of the premium prices being achieved in the second hand property market.
Setting records with successful sales
Successful sales of late include a beautiful five bedroom family home in the extremely popular Steils development in Greenbank close to our Morningside office. We set a substantial record for similar houses in the development achieving over 5% above the valuation of £600,000. This is one of the areas of the market where there is still incredibly high demand for family homes within popular school catchments. The usual hotspots of Morningside, Bruntsfield, New Town and Stockbridge continue to be highly sought after areas for a variety of buyers.
Looking towards 2019
So, what does the future hold? With political uncertainty caused by the ongoing Brexit negotiations we cannot predict the future. However, right now as it stands prices have never been higher in Edinburgh and we see there being no real change going into 2019. Until there is a real shift supply we don’t see a downturn in prices. We are reaching a stabilisation phase which is good news for buyers as prices have been increasing year on year quite considerably for the last 5 years. Our advice would be to sell now rather than wait until a time when you may regret holding off.
Talk to Clyde Property Edinburgh about your next house move:
48-50 Morningside Road, Edinburgh EH10 4BZ
T: 0131 297 5999
Clyde Property is a leading independent, multiple award-winning estate agent with over 30 years’ experience in selling and letting property in Scotland. Just call your local Clyde Property branch today, for friendly, impartial advice on letting and renting property.