Edinburgh Quarter 3 2013 Review
CONFIDENCE CONTINUES TO GROW IN THE EDINBURGH PROPERTY MARKET
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 city office, the quarter three period from July to September 2013 saw viewings and the number of properties for sale rise considerably whilst the number of sales remained broadly unchanged.
Alasdair MacKenzie, head of residential at CKD Galbraith’s Edinburgh office, said: “Market confidence has been continuing to grow throughout the year and we have seen increasing willingness from buyers and sellers to make their next move. The statistics demonstrate an improving picture for the market and we forecast this is likely to continue into next year.”
CKD Galbraith Edinburgh statistics from quarter three show:-
- Very strong growth in the previous quarter of 2013 (sale up 14% and missives concluded up by 20%) has been sustained throughout this quarter
- Supply of houses listed for sale up by 30% on the previous quarter and up by 21% on Q3 2012
- Viewings up by 78% compared to Q3 2012 (and up by 10% against the previous quarter of this year)
- Double the number of buyers registered with the firm compared with Q3 2012 and also up on the last quarter
- 60% of buyers are locally based; 15% are national buyers; 25% are international buyers
CKD Galbraith’s sales teams operating across the whole of Scotland handled in excess of £400million worth of property (2012/13 financial year) ranging from cottages and conversions to country houses, farms and estates.
Alasdair continued: “There are buyers out there willing to purchase and across the year so far, we’ve seen an increase in sales, viewings and registrations. The average number of viewings each property receives before it is sold is up significantly this year, with more people browsing which suggests a good prognosis for the market going forward.
“However, realistic pricing is still imperative in today’s market. Those properties with prudent guide prices are the ones witnessing more activity.
“In Edinburgh we are seeing a good level of demand for city centre properties with an increase in enquires received from buyers looking for second homes or properties as a long-term investment opportunity. We are encouraged by this activity, and movement on other property types as well, that demonstrates that the market is continuing to steadily improve.”
CKD Galbraith Edinburgh has recently launched local Facebook and Twitter pages providing followers with updates, news and information on the local residential property market. To be the first to know about new properties available for sale in the area like and follow us at facebook.com/CKDGalbraithEdinburgh and twitter.com/Edinburgh_CKDG