A Good Start to 2010
By Richard Loudon, Partner
We are pleased to report a very good start to 2010 after the difficulties of the last 18 months. Central Edinburgh properties in good locations appear to have recovered well with much more activity and a small recovery in prices. As a general rule I believe that properties are now worth about 10% below the peak of the market in late 2007/early 2008 despite the fact that the official statistics do not fully reflect this decrease. These statistics do not take into account properties that were not sold because some sellers were not willing to accept the correction in the market that had clearly taken place.
Activity on our website has significantly increased from 2009 with a noticeable increase in buyer demand and some good quality properties beginning to come through the system.
Here at Simpson & Marwick we had a particularly busy fourth quarter of 2009 with good demand across most sectors of the market.
The first couple of weeks of 2010 were slow because of the poor weather however the second half of January and also February have been very active with over 40 sales.
Properties are generally selling for between 5% above and 5% below Home Report value dependent upon quality and location.
Please note that last year we had the highest average sale price of properties for any ESPC firm. We sell properties in all sectors of the market including properties in excess of £1 million. One property recently sold for over £200,000 in excess of the Offers Over price for a figure in the region of £1.25 million having had over 1,600 clicks on it through espc.com and many more on our own website.
We want your property! With many applicants we need more stock in every sector of the market. If you are thinking of selling please ring us for a chat or to arrange a valuation which we will follow up with a detailed marketing report and fee quotation all at no cost and with no obligation.
For further information please telephone me, Richard Loudon – Property Partner 0131 525 8600 or email richard.loudon@simpmar.com.