Property boom not dead, say Warners
7 Dec 07
Edinburgh firm reports average 12 1/2% price rise over year to date
Reports of the death of the property market are exaggerated, at least in the Edinburgh area, according to solicitor and estate agency firm Warners.
The firm sold property to the value of a record £207 million up to the end of November, representing an increase of 14.51% from the 2006 overall figure of £180 million.
Compared with the total for 2006, property listings have also risen by 10.46%, sales by 5.49% and the average selling price has increased by 12.53%.
Scott Brown, estate agency partner at Warners, said: “Despite all the negative talk, this has still been another phenomenal year for property in Edinburgh, which is proving to be a consistently attractive place to live, work and invest.
“There has been a lot of doom-mongering about Edinburgh’s hot-house property market – worsened by the distress caused by the Northern Rock crisis and fears over rising interest rates. Yet the fact remains that people still want to live in or move to Edinburgh and the Lothians – and this continues to fuel the consistently strong property market."