Recent conditions in the housing market reinforce the value of good advice
The Scottish housing market had a lot to digest this spring, including conflict abroad, an election at home, and inflation rate fears everywhere.
Not surprisingly, this led to gloomy predictions about cost of living hikes, mortgage rate rises, and the effects on property markets. In turn, homeowners worried – and continue to do so – about whether it's the right time to move, buy or sell.
A tradeable market
The reassuring reality of Scotland's housing market is that even during nervy times, well-presented properties continue to sell – and sell well. The fact that we're not in a super-charged sellers' market brings balance and predictability.
Recent data from the Edinburgh Solicitors' Property Centre (ESPC) illustrates this nicely. Despite the Iran War breaking out on 28 February, they saw a significant rise in Home Report downloads and viewing requests in March compared to the previous year. And homebuyers in Edinburgh and the Lothians paid an average 101% of the Home Report valuation, making it a very tradeable market for both buyers and sellers.
BEWARE false friends
In a calmer market like this one, many people are persuaded to make a 'subject to sale' offer on their next property. However, these offers can be a false friend, making your offer less attractive to sellers. In contrast, by selling first, you can put yourself in a strong position to buy your next property: you know your budget and you're chain-free.
