The Edinburgh Property Market Continues To Show Encouraging Signs
The Edinburgh property market continues to show encouraging levels of activity according to new statistics released by CKD Galbraith.
Following research conducted by the firm’s Edinburgh office, the first quarter of 2014 (Jan – March 2014) saw property sales remaining steady and a significant increase since the previous quarter in the number of viewings and buyers registering with the firm in Edinburgh.
CKD Galbraith Edinburgh statistics from quarter one of 2014 show:-
- The number of sales agreed has more than doubled against the last quarter and up 62% on the same quarter for 2013
- Viewings up by 38% against the previous quarter
- The number of buyers registered with the firm up by 27% compared to the previous quarter
- 22% of the properties we have sold this year are to buyers who are locally based; 67% to national buyers; 11% to international buyers
Andrew Jarvie, of CKD Galbraith’s Edinburgh office, said: “Market confidence is continuing to grow year on year and we have seen increasing willingness from buyers to make their next move, with the number of agreed sales being up considerably this quarter. Of these agreed sales, 53 per cent sold within two weeks of coming on the market with 65 per cent achieving the home report value or above.
“It must be noted however that there is a shortage of properties coming on to the market with demand outstripping supply throughout Edinburgh. A trend we have experienced this quarter is the rise in the number of buyers from outside Scotland, mainly London, as well as a rise in people retiring to Edinburgh for convenience and culture.”
CKD Galbraith has enjoyed substantial growth over the years and has continued to expand throughout Scotland with the recent opening of a new office in Aberdeen as well as expanding its presence in Argyll and the Isles having recently appointed a dedicated consultant in these regions.
If you are interested in selling or buying a property in the Lothian region, please do not hesitate to get in touch with our Edinburgh estate agency team.