Edinburgh homeowners looking to move urged to market their homes over Christmas

A local agent is advising homeowners in the Scottish capital who want to move home not to be put off by traditional ideas about a slump in buyer interest over the festive season and to put their property on the market to maximize their chance of selling.

Warners Solicitors & Estate Agents are currently seeing demand for homes in Edinburgh in excess of supply, with those putting their homes up for sale often finding a buyer very quickly and at or sometimes even above the expected price.

Operations director for the firm, David Marshall, says its November Market Report indicates a potential benefit for anyone willing to put their property up for sale: “Anyone thinking that the festive season is the wrong time to try to sell could well be missing the chance to give themselves the perfect Christmas present – a ‘Sold’ sign outside and a great price for their property.

“Property sellers in Edinburgh and the Lothians are continuing to benefit from the strongest sellers’ market for almost a decade as 2016 draws to a close. Throughout the year, sellers have held the upper-hand in the market with most properties selling in a matter of just three or four weeks and achieving selling prices that exceed their Home Report valuation.

“Latest figures from ESPC revealed that in the three months to October, the average house price across East Central Scotland rose by 5.0% annually. Within Edinburgh itself the average house price increased by 5.2% from £223,666 last year to £235,289 today.

“At Warners, three out of four properties we have sold during the last three months achieved a price that was at least equal to the original Home Report valuation, with most of these achieving a price in excess of the valuation. This excess of supply over demand has been what has driven the favourable conditions that sellers have enjoyed.

“So while traditionally there is usually a downturn in buyer activity over the festive period, this year we would expect that sellers will continue to enjoy a strong market up till Hogmanay and beyond.

“And even if sellers don’t get a sale before the holidays, by listing now they will be well placed to seize on the inevitable surge in interest at the start of the year when people do flood back in to buy.”

Check out all the new homes for sale in Edinburgh right now here.