Edinburgh & the Lothians Buck the National Trend
Whilst the sun might have shone all summer long across the UK, the headlines about property have remained gloomy, forecasting downturns and price drops. Yet once again, as we review the June to August market through a local lens, Edinburgh and the Lothians has proven itself to be a unique and buoyant market that continues to buck the national clickbait narrative.
Regular readers of our blog will know that we have long argued there is no such thing as the UK property market! Instead, is the UK is a patchwork of local markets, each shaped by its own local dynamics. As Billy Connolly famously quipped about the Scottish weather, there is no such thing as bad weather, only the wrong clothes. In Edinburgh and the Lothians, it could be said that there is no such thing as a bad market, only the wrong agent!
What’s happened in the Edinburgh Property Market this Summer?
This summer has underlined that point. Far from the slowdown portrayed in the national press, our local market has delivered healthy growth and strong activity. The average selling price in East Central Scotland has risen by 4.5% compared with the same period last summer, with properties changing hands at pace, often going under offer in under three weeks or less. Whilst the number of new properties coming to the market stayed the same as last summer, sales activity has been brisk, with 7% more homes sold than in the same period last year and buyers competing keenly for quality properties suggesting strong buyer appetite locally. The overall value of sales across the region has surged past £988 million, 11% higher than the same period last year, reflecting both higher prices and higher volumes of sales.
Neilsons Solicitors and Estate Agents: Leading the Market in Sales and Results
At Neilsons, we are proud to be leading the way. Over the summer, we sold just over one in every ten homes in the region, more than any other estate agent. We also achieved the highest total number of sales, and total sales value in Edinburgh and the Lothians at £102 million. These results are not achieved by chance. They come from experience, commitment, and a true understanding of what makes our local market move.
Speak to Neilsons for Tailormade Expert Advice on the Local Property Market This Autumn
For sellers, this means that the right strategy, marketing and negotiation can deliver exceptional results even at a time when national headlines suggest otherwise. For buyers, it means that opportunities remain plentiful, but expert Solicitor guidance is needed to move quickly and with confidence in a competitive environment and you need the innovative technology that Neilsons provides our clients exclusively. For developers, the combination of strong demand, rising prices and relatively tight supply provides an excellent window of opportunity.
What the national headlines miss is the local story, and it is only by speaking with those who work in the market every day that you can uncover the real picture. At Neilsons, our team truly understands the dynamics of the local Edinburgh and Lothians property market. If you are thinking of buying or selling, contact us today for clear, expert advice tailored to your circumstances and backed by proven results.
Book a free consultation with Neilsons here!
