January 2019… so far, so good
At Coulters we have gone through a fantastic 12 months of growth, exciting new hires and a merger, setting us up perfectly to meet 2019 and all that it brings.
A new year is always an exciting time in our industry. Despite best-laid plans, you don’t fully know what to expect. You come out all guns blazing with resolutions and enthusiasm to improve on the previous year.
Towards the end of 2018, we saw a definite softening of the property market within Edinburgh.
We analysed these conditions closely in order to understand the cause and offer appropriate advice to our clients.
Understandably, some sellers were concerned with the state of the market and questioned if it would continue into 2019.
We believe that the weaker conditions were in part due to the market correcting itself after a period of significant growth over the first three quarters of the year.
Therefore the start of this year saw a little apprehension; especially with Brexit looming and the somewhat unhelpful increase in Additional Dwelling Supplement for second homes.
However, we are pleased that the start of 2019 has been very encouraging, in fact, for Coulters it has been the best start to a year in our history.
We have had multiple sales where the end value has been in excess of 15% of the Home Report value and average sale times dropping to eighteen days. Properties are selling quickly and at great prices.
We have had a record month this January for the number of houses we have visited showing that Edinburghers are resilient and reluctant to let any more political uncertainty stand in the way of moving to their dream home.
The confidence we are seeing in Edinburgh’s market is demonstrated by the new properties being added that are selling quickly across all price ranges.
The city continues to top the list of best places to live and invest and tourism throughout the country is at an all-time high.
The local economy has been bolstered by an ever-growing tech sector, building upon the success we have enjoyed within professional services for many years.
Things look bright!