House Price Report April 2017

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The Edinburgh House Price report for April 2017 has been published and it makes for an interesting read.

In case you missed seen it, the House Price report for April 2017 has been published by the ESPC.

And it makes for interesting reading if you are thinking of selling your home in Edinburgh, and perhaps buying a larger home in Edinburgh at the same time.

The report confirms what we at Cameron Stephen & Co. already know; namely that in the first four months of 2017, fewer home owners in Edinburgh have put their properties up for sale than we would traditionally see. Whilst Spring is traditionally a time for people to sell and buy, this Spring has been noticeably quieter. There is speculation as to why that should be - some people think it is Brexit or the upcoming General Election but in truth, no one knows.

But what it does mean is that if you are a first time seller and your Edinburgh property is going to be attractive to first time buyers and investors, then now is the time for you to get your property on the market. Why?

Because there there are more buyers than there are properties to buy, those properties which are coming onto the market are selling quickly and at prices way above their valuation. In some cases we have seen properties sell for more than 20% over valuation!

The problem comes when you then want to buy. You too will then be in a seller's market and competing against other buyers for the same - relatively - free properties available. But if your circumstances are right, then the current market can work to your advantage.

So if you are thinking of selling and then moving up the property ladder in Edinburgh why not get in touch? We can give you a free valuation of your current property and give you a good idea of what you could expect to pay for the property you are looking to move up to. We have also successfully acted for clients in the current market who have decided to buy first and then sell. Although it is a little tougher, we do think that this will be becoming more commonplace in 2017.

 

You can easily contact Cameron Stephen & Co. solicitors and estate agents in Edinburgh via our website or on the phone by calling 0131 555 1234.

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