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2021 PROPERTY MARKET PREDICTIONS

Derek Brien, Head of Estate Agency at VMH Solicitors, looks back at 2020 and
considers what will happen to the local property market in 2021.

After a fairly standard start to 2020, knock-on effect for second, third and fourth
lockdown in late March turned all of our lives time buyers/sellers and beyond.
(and the property market) upside down and
when restrictions were lifted on 29th June, The current Land and Building Transaction
four months’ worth of properties came to the Tax (LBTT) incentive ends on 31st March, so
market in one go! that may mean a surge in early year activity so
buyers can be in their new homes by the end of
I have never experienced a busier market the first quarter to take advantage of the saving.
and it was massively encouraging to see that
there was still desire from buyers and sellers Will this incentive be extended? I guess that
to move. Demand continued right through to depends on the Scottish Government and
November, when things started to cool off for whether they feel it’s important to continue it
the traditionally quieter run up to Christmas. in order to encourage demand from buyers.
The conversion and development of Springwell House, a landmark
So, what will 2021 bring? It’s difficult to One big unknown is the Brexit effect and how building on the corner of Ardmillan Terrace and Gorgie Road, will
predict, particularly in light of the latest this might impact on the market, if at all.
lockdown restrictions, but here are some of see the creation of 48 one, two, three and four bedroom homes.
my thoughts... The Edinburgh property market has always Due for completion early this year, Springwell features a range of apartments,
proven to be fairly resilient and, whilst there duplexes, townhouses and two lodge houses, all set within landscaped
Lenders are starting to reintroduce their may need to be an adjustment in sellers’
higher loan-to-value products once again and expectations in the event of an economic grounds. With 17 apartments already sold, call Behnam Afshar for further
interest rates are still attractively low, which downturn, good quality properties in good information on 07967 322 025 or email behnama@amanewtown.co.uk.
may encourage buyers. locations will always attract strong interest.
Prices start from £230,000
The First Home Fund is starting up again Find out more about VMH Solicitors at
in 2021 so that should stimulate the lower vmh.co.uk or contact the team on 0131 622
end of the market, which, in turn, will have a 2626. www.amahomes.co.uk/springwell-house

30 ESPC.COM