Despite the well aired political and economic uncertainties of the times 2016 has seen property prices in Edinburgh steadily on the increase across all sectors apart from the very top end of the market. There are more first time buyers looking to buy and despite all the new regulations and costs in the rental sector the buy to let investor is now a big player in the market, snapping up a lot of one and two bedroom properties in popular areas. The middle market has been extremely strong with family homes hard to find and if found, commanding premium prices.
The turn of the year this year sees an unusually accentuated sellers’ market with a lack of property on sale throughout the city and surrounds. The key to unlocking the shortage of demand is for potential sellers to market their property first before buying. A potentially daunting prospect for some but in our experience the majority of sellers do find a new home in time to coincide with the sale entry date, or in the worst case scenario have been able to arrange short to medium term rentals until a suitable new home is found.
So 2017 is going to start with a lack of property but will be coupled by a strong pent-up demand, so if you are thinking of moving the beginning of the year will be a good time to market your property with the likelihood of plenty competition and excellent prices being achieved.
Blair Cadell blog editor