The Edinburgh Residential Property Market Maintains Momentum
Despite the uncertainty caused by the Scottish referendum during the summer months, CKD Galbraith have released new statistics showing that the property market maintained momentum and interest.
The third quarter of 2014 (July-September) saw a large rise in the number of good quality homes coming on to the market according to research conducted by the firm’s Edinburgh office. The number of potential buyers registering with the firm also increased compared to the previous quarter of this year, indicative of pent up demand in the property market from purchasers following buoyant sales market during the first half of 2014.
CKD Galbraith’s Edinburgh statistics from the third quarter of 2014 show:-
- The number of properties brought to the market through CKD Galbraith increased by 50 per cent compared to the second quarter of 2014
- The number of interested buyers registering with the firm rose by five per cent compared to the last quarter
- On average properties in the Edinburgh area have sold two weeks quicker than the last quarter of this year; the shortest time taken to sell a property this quarter was two weeks
Andrew Jarvie, of CKD Galbraith’s Edinburgh office, said:
“The Edinburgh market wasn’t quite as affected by the referendum as other regions and although we saw a slight decrease in sales and viewings in the fortnight leading up to the 18th September, there has since been a lot of new activity as confidence returns to the market.
“Whereas last quarter we saw an influx of buyers from south of the border and overseas, the summer period has been a little quieter in comparison as was expected and buyers have predominantly been from within the Edinburgh area. Buyers and sellers are now waking up to the implications of proposed changes to stamp duty which will take effect from April 2015.”
CKD Galbraith operates a network of regional offices located throughout the country and has enjoyed good growth over the last year which it expects to continue into the final quarter of 2014.
If you are interested in selling or buying a property in Edinburgh, the Lothians or Peebleshire, please do not hesitate to get in touch with our Edinburgh estate agency team.