Family-size homes near good schools lead demand

For what has really been the first time since the recession, the property market feels that it has become slightly busier again.

Although it is still difficult for first-time buyers and for those with unknown job prospects, there are others who are accepting of the new market level and have just decided to proceed with their plans – moving to a bigger house for a growing family, or downsizing for easier lifestyle.

There is also visibility of the investor returning to take advantage of the lower prices, in the confidence that prices may have stabilised a little.

Despite a slow recovery to the market, there is as ever a demand, which in Edinburgh always seems to exceed supply, and that is for family-size properties near good schools.

I am personally always amazed at how these can romp away in price, completely ignorant of the economic crisis suffocating everyone else’s optimism.

Moving close to school could be a budgetary consideration because of rising fuel costs. It could also be sheer convenience and a desire to live close to pals.

This all points to my understanding that family-size properties and those in good catchment areas could hold their price going forward. They may take a bit longer to sell than the old days, but sales will remain strong.

It is the one- and two-bedroom flats and other areas which will have the biggest question mark over them as to what happens with price.

What remains to be seen is the impact of the more recent news of the stock market plummeting again.

I would like to think that after the last panic and the dust had settled, because people just carried on again but more cautiously, a second wave of economic uncertainty should find the housing market more robust.

l Barbara Armstrong is the owner of Edinburgh Property Finders.