17 Apr 2016

New figures reveal Edinburgh property sales up by 25%

New figures reveal Edinburgh property sales up by 25%

 

Property sales in Edinburgh are up by almost 25% as the capital's property boom continues, according to new statistics.

Official statistics from the Registers of Scotland show that £333.5million worth of property changed hands in the capital in January and February – £42.4million more than a year ago.

There has also been a 24.4% increase in property sales over the same period, with 1,536 homes selling in the first eight weeks of 2016 compared with 1,234 during the same period in 2015.

The figures follow a 21% increase in sales in Edinburgh between October and December, the last recorded quarter.

The city has also just been named the second 'most liveable' city in the UK after Bristol thanks to high average wages and low unemployment.

'Fantastic time to sell'

Aberdein Considine's Edinburgh offices have also enjoyed a bumper start to the year.

Jordan MacKay, who manages the firm's Lothian Road property branch, said there is still a huge amount of pent up demand in the market as the busy spring period gets underway.

“On average, we’re selling homes within two weeks, which is unusual for January and February," he said.

“Six out of 10 properties we’re selling in Edinburgh are also going to a closing date, which again shows the scale of the demand.

"We now have 2,000 people registered with us who are looking to buy a home - so clearly the market is showing no signs of slowing down.

"It remains a fantastic time to sell property in the city."

Everything under one roof for sellers

Due to the speed properties are selling, Aberdein Considine currently requires stock in Edinburgh. 

To book a free, no obligation property valuation, call 0333 0066 333 or click here.


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