Edinburgh is bucking the trend in a testing housing market

Published on Wednesday 23 April 2008 10:22

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 population, 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.

&#149 Matthew Gray is property services director at estate agents Pagan Osborne