Warners' property sales down by third

SOLICITOR and estate agent firm Warners today said its sales levels declined by more than a third in 2008.

But the company, which has four property shops in the Lothians, still sold 745 properties with a total sales value in excess of 145 million.

It said sales were down 34 per cent on 2007 but still managed to achieve the title of the best-performing firm in the Edinburgh Solicitors' Property Centre – for the tenth successive year.

Warners said it is still experiencing a "reasonable" amount of activity despite it being "undoubtedly a tough year" for the property market.

Scott Brown, the firm's estate agency partner, said: "I think many people will be surprised to learn that one firm did sell 745 properties in 2008 and that transactions are still happening.

"The issue is not the ability of people to borrow, but the ability to borrow a high enough percentage of the price to afford the property."