A Jump in Lothians Property Sales
Friday, July 20th, 2012
on behalf of Warners Solicitors and Estate Agents
There is hope that the property market is recovering from the effects of the economic slump as Warners are 50% up on their first quarter in terms of property sales.
In fact, figures from the ESPC show that the number of homes sold across Edinburgh and the Lothians in the past six months has risen by almost 13 percent.
David Marshall, business analyst with the ESPC said: “A few things have contributed to the rise in the number of sales – partly prices are lower.
“I’d expect to see a steady increase in sales ahead, there have been indications that people are starting to think a bit more seriously about moving house in the next few years.
“The one obvious note of caution is we are talking about an increase on a relatively low base.”
Edinburgh property solicitor Warners sold a total of 205 properties in April-June which is a 50 percent increase with estate agency partner Scott Brown said: “After a quiet April, which saw house sales down considerably on the beginning of the year, the market is beginning to pick up.”
New figures have shown mortgage lending is up by 24 per cent since April and with interest rates remaining at their lowest ever, more people are being motivated to buy.
Mr Brown added: “We are pleased to see that the end of the stamp duty holiday is not continuing to deter first-time buyers from purchasing.