The last quarter of 2013 was actually everything it was predicted to be. According to the most recent statistics published by Edinburgh Solicitors Property Centre – Edinburgh, The Lothians and Fife enjoyed a substantial increase in the number of properties being sold.
In fact sales during this period rose by a massive 47.5% and Neilsons were certainly at the forefront of the activity with offers being received right up until Christmas Eve.
House prices in Edinburgh also increased by 5% annually with the number of homes coming onto the market during this period up by 25.5%.
The Royal Institute of Chartered Surveyors (RICS), are forecasting an increase of 7% over the course of 2014 and predict that rents will rise by a further 2% sighting the growth is being driven by the acute imbalance between rising buyer demand and supply.
Impact Of Price Increases
Any price increase only serves to impact first time buyers and those who want to move up the property ladder.
Whilst home movers may expect more for their current property buying a more expensive property makes the transaction disproportionately more expensive.
This trend is forecast to continue well into 2014 and if further price increase are ahead of us and you are a first time buyer or considering a move up the property ladder then now may be a good time to speak to us about the dynamics of the market.
Our consultations are designed to talk you through everything you need to know about the market and help you arrive at an informed decision about your next house move.