Page 14 - ESPC Training Booklet

THE PROPERTY MARKET 36 WEST SILVERMILLS LANE,

STOCKBRIDGE, EDINBURGH, EH3 5BD
AUGUST PROPERTY MARKET UPDATE

FIXED PRICE £370,000 2 2 1 C

KEY POINTS ESPC PROPERTY
August 2020 proved to be another
exceptionally busy month for the local
property market. The number of homes
41% in Edinburgh, the Lothians, Fife and the
Borders listed on ESPC during this month
increase in
homes coming was up 41% compared to the previous year.
to market In the capital, the volume of new homes
coming to market was up 48% year-on-year.
The average asking price recorded by ESPC
In Edinburgh, the Lothians, Fife and the
Borders, during August 2020 there was a 41% in these areas during August 2020 was
increase in the number of homes coming to £250,718 compared to £232,737 last year. In
market compared to the previous year. Edinburgh, the average asking price was
£264,626 compared to £242,426 last August.

Out of the properties listed on ESPC in
Edinburgh, the Lothians, Fife and the
£250,718 Borders during August 2020, 93.7% were
marketed as “offers over” compared to
average just 79.3% last year. In Edinburgh, 97.4% of
asking price properties were marketed as “offers over”.
This is a sign of confidence in current market
conditions from agents and sellers.
The average asking price across these areas
in August was £250,718 compared to £232,737 We are also seeing continued evidence of
in August 2019. a highly competitive market. Reports from
agents indicate that there is a lot of activity
and interest in buying properties, with
homes frequently selling fast and in excess
93.7% of the Home Report valuation.
Newly renovated with sumptuous contemporary interiors, this two-bedroom, two
marketed as In August 2020, the number of properties bathroom main-door flat, with allocated parking and a double-sized garage with
“offers over” placed “under offer” on ESPC was up 42%
compared to August 2019. Furthermore, single door, represents a desirable city home for professionals and downsizers, or as
there was a 70% year-on-year increase a healthy rental investment. Located in Stockbridge.
in the number of closing dates set for
93.7% of properties in Edinburgh, the properties advertised on ESPC. A high
Lothians, Fife and the Borders were marketed number of closing dates indicates high
as “offers over” compared to 79.3% in the competition for homes. Viewing Information
same period last year, indicating confidence
in market conditions from ESPC agents. (continued on p16) Call: 0131 253 2993
Email: propertysales@gilsongray.co.uk
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