High Quality City Properties In Demand As Edinburgh Market Makes A Flying Start
The Edinburgh property market has had a flying start to the year with encouraging levels of demand and high quality property coming to the market, and an increase in property viewings, according to CKD Galbraith.
2014 was a year of steady growth for the Scottish property market and CKD Galbraith’s statistics from the first quarter of 2015 suggest that this trend is set to continue with the firm’s overall sales up 24% compared to the same period last year. As the traditional spring selling season commences the firm’s offices across Scotland are generally reporting rising levels of buyer confidence and activity.
CKD Galbraith research reported that the first quarter of 2015, from January to March, saw the number of properties on the Edinburgh market rise by 150% compared to the same quarter of 2014. Buyer interest was also significantly up with a 28% increase in property viewings and an 80% rise in potential buyers registering with the office in comparison to the previous quarter.
Jamie McNeill, from the Edinburgh office, said: "Edinburgh has experienced an increased demand for high quality city properties and I’m confident that our established team has an unrivalled advantage in the local market to be able to secure and sell such properties."
"The statistics demonstrate a healthy market and we forecast this is likely to continue throughout the spring and summer months."
CKD Galbraith’s Edinburgh statistics from the first quarter also show:-
- Property sales in the region increased by 50% compared the last quarter
- 62% of sales were completed by local buyers, 25% national and 13% international
- The average time taken by the Edinburgh office to sell property was seven weeks, with the quickest sale conducted in just one week
- 62% of purchases were made by cash buyers
- Increase in the number of high end properties on the market (£400K +) due to the LBTT
The firm has asserted that the new tax system in Scotland, the Land and Buildings Transaction Tax (LBTT), should not put potential buyers from outside Scotland off, the local office’s sales teams are highly experienced in guiding buyers through the process. During the first quarter of the year nearly 10% of the firm’s sales were completed by international buyers with help from the firm’s friendly teams.
CKD Galbraith’s Edinburgh office is currently marketing an extremely attractive five bedroom property in the heart of the residential suburb of Cramond, located to the north west of Edinburgh city centre. 18B Gamekeeper’s Road has been extensively refurbished to a high standard to provide accommodation over ground, first and second floors. The property is presented in immaculate order and provides a striking family home.
The area is extremely popular with families, with its historic village and harbour, beach promenade and leafy walks along the River Almond, as well as its proximity to a number of well-regarded schools.
18B Gamekeeper’s Road is currently on the market for offers over £640, 000. For further information please contact CKD Galbraith’s Edinburgh office on tel: 0131 240 6960.