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Edinburgh is bucking the trend in a testing housing market



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Published Date: 23 April 2008
Tricks of the trade will help you sell your home, says Matthew Gray.
PEOPLE looking at the property market in Edinburgh should not be put off by talk of tumbling prices and a glut of housing stock. In the Capital, good properties will always sell. What's more, they will always sell at the right price. An expanding pop
ulation, high employment rates and the rarity value of many homes in Edinburgh ensure that the property market here is unique and certainly outperforming other areas of the UK

Last week, the Royal Institution of Chartered Surveyors (RICS) announced that property prices in Scotland were bucking UK trends. It said 90 per cent of its members north of the Border reported that costs were rising or staying the same.

Many of our clients confirmed that interest in their properties remained steady, despite predictions to the contrary. One client selling properties at prices up to £1.4 million even talked of a "thriving market". In popular areas, some clients are gaining interest in their property before it has even been officially listed. Cash buyers are not uncommon, nor those with mortgage agreements in place.

There is no doubt that the buying and selling of property is tougher than last year – but it is still possible. In the Capital you should have high expectations of your property expert to make this happen. There are hot buyers within the marketplace actively looking, so it is very important that your solicitor or estate agent understands the necessary skills required to maximise and attract this interest. More than ever, how the house is presented and marketed is critical.

Selling a house starts with the right valuation. This is not solely governed by market sentiment but should be based on expert knowledge of the area, a genuine understanding of the property style, location of amenities, future developments and knowing where the demand will come from. Ask agents about buyers' banks – pools of potential buyers on their books who can be instantly targeted.

Then it is about a marketing campaign, from schedules to ads; from presentation to viewing times. Everything should work hard for you. So don't accept old photos in a schedule, but do expect an active approach to selling your home.

Another key factor is that astute buyers with funds in place help oil the whole process. This is now a major factor for solicitors and estate agents when receiving offers, so well worth looking into. Your solicitor or estate agent should be able to point you in the right direction.

Edinburgh remains one of the most desirable locations in Britain to live. It is easy to be swayed by the constant bombardment of negativity, but this should be balanced against long-term low levels of housing supply against rising demand and a desire to live here. Buyers, sellers and agents would do well to focus on this.

Matthew Gray is property services director at estate agents Pagan Osborne





The full article contains 502 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 23 April 2008 9:54 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Mortgage and property news
 
1

ccc,

23/04/2008 12:20:38
"Edinburgh is bucking the trend in a testing housing market"

- Property services director at estate agents Pagan Osborne

Why don't you just ask Turkeys what they think of Christmas....

This blatant advertising really shoud be investigated by the Press Complaints Commision. I know of one person who has already sent in a complaint.

But at least there are a few snippets of reality entering the stories. I wonder why the following figures never seem to get a mention........

228
222
215
210

"Talk of tumbling house prices" Matthew gray ?

No, the FACT of tumbling house prices. Get used to your smaller commissions. But hey that is not the only reason why EA's have been spinning the market is it :)
2

Steven P,

edinburgh 23/04/2008 13:26:31
What a load of old tosh Matthew.

Your quote - "In the Capital, good properties will always sell. What's more, they will always sell at the right price."
In the paraphrased words of Basil Fawlty - "Cant we get you on Mastermind. Contestant - Matthew Gray, subject - the bleeding obvious."

So what is the right price? Presumably one that someone is prepared to pay.
And what about the average, hastily-developed, wacky or poorly-located property?

Also "One client selling properties at prices up to £1.4 million even talked of a "thriving market"."
Well hurrah, £1.4 million must cover about 1% of the city's housing stock.

Your articale is no more than a desperate advert for hoorah-henry, now-discredited, w***er-banker types.
3

A Friend of Fernando Poo,

, Newington 23/04/2008 13:29:31
We seem to have gone from "there is no bubble" and "property prices can't fall while interest and unemployment rates are low" to "Well, Edinburgh is different".

We'll have reached the bottom when the estate agents all cry "It's a depression. The housing markets will never recover from this."

As they're still all in denial, it looks to me like we have a ways to go.
4

ccc,

23/04/2008 13:56:40
Funny how the other property story in the EN today is about a repossession firm who's businesss is soaring in Edinburgh right now.

Strange that, DOES NOT COMPUTE. DOES NOT COMPUTE !!!!

Adn why does the above article have the first line "Tricks of the trade will help you sell your home".

Surely if the Edinburgh market is 'bucking the trend' no-one need even think about using 'tricks of the trade'. Why would you have to.....

Just stick a sign out and it will sell. Coz that is what is happening in Edinburgh right now isn't.

July ESPC figures. That is when the public really wake up to what is going on.
5

Plodjfriss, Hammer of the Numpties,

Edinburgh 23/04/2008 16:25:37
AGAIN? This is about the third article like this we've had in the space of a week. It's rather like someone taking out full-page newspaper adverts saying "THE RUMOURS REGARDING MY SEXUALITY ARE COMPLETELY UNFOUNDED". The more you deny things, the more people think you've got something to hide.
6

Disgusted Aussie,

Huddersfield, West Yorkshire 23/04/2008 23:39:56
G'day. Heather Mills & Mathew Gray...porkie queen and porkie king?
I've been looking at buying in Scotland for about 12 months. Until about 2 mths ago, fixed price houses were about 1/20 in Scotland.
At my last 'save' of same on Rightmove, there were about 1/5 or 25%. Sydney=Australia, London= Uk and Edinburgh=Scotland, apparently. I chat to a few natives on the net, and they all agree with the remarks above mine that there IS a change. Does Mr Gray realise that th majority of big banks are scottish based, that wages are less (cos your 'Neighbours' still regard you as second class, or so it would appear to an outside from the wage structure) and so on. Does he think the long overdue credit squeeze should or even does/will stop at Newcastle (approx. old border) or current border?
To think good trees get cut down to print that crap.
Yawnsville.

 

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