An innovative sales drive set up by a group of the Lothians’ leading solicitor estate agents has helped to spark more than £6 million worth of property sales.
Buyers across Edinburgh and the Lothians have been flocking to the ELPG’s new initiative – the Spring Sales – which has been offering would-be purchasers the chance to secure their dream home at a bargain price.
Under the initiative, many homes are being advertised by ELPG member firms at reduced prices. Prospective buyers are also able to compare the new values with the previous prices set for the properties last year.
The scheme was launched earlier this year and has already led to around £6.5 million worth of property sales across the five ELPG member firms – with hundreds more prospective buyers arranging viewings of properties featured in the Spring Sales.
And the ELPG, which consists of Warners, Neilsons, Drummond Miller, the Lints Partnership and Leslie Deans & Co, believes that the initiative is helping to breath new life into the Lothians property market.
The firms have recorded more than 40 property sales through the Spring Sales initiative, with a total value worth in excess of £6.5 million.
John Lints, Senior Partner at the Lints Partnership, said: “There’s no doubt the property market needed something to kick start it back into life and I think this initiative has been very helpful in bringing some much-needed confidence back into bricks and mortar.
“So far, we have sold a quarter of our featured Spring Sales properties at the Lints Partnership, which have been worth a combined total of more than £1.1 million. Every other firm in the ELPG is reporting similar figures, which is very pleasing.
“I think people are starting to realise that the current conditions are perfect for buying a property. Interest rates are at a record low, there is still a Stamp Duty freeze in effect and, as long as you have a deposit, there are good mortgage deals of around 90% or better available for buyers.
“There are still plenty of sellers across the Lothians who are waiting patiently to sell their properties, so initiatives like the Spring Sales have a wider effect on the entire property market – as every transaction helps spark further activity along the whole property chain.”
“Our message is still clear: the conditions are perfect for buying a home and, with the Spring Sales still in effect, you won’t get a better chance to secure your dream property for a bargain price.”
The ELPG was set up in 2002 with the aim of strengthening the members’ position as the main players in the Edinburgh and Lothians property scene. The firms currently account for more than a quarter of all sales in the ESPC.