Property Market - Edinburgh - Selling Advice

[Kinlocrhum]

Hi, i have a house in Edinburgh I want to sell. How do any local people feel the market is? Should I sell now or wait until after Brexit?

I don't live there - hence why I would appreciate any local knowledge! Thank you.

[Phlewf]

Someone will be along shortly who knows better but the market in Edinburgh is always lively. Right now it’s rampant. I haven’t seen a house on the market more than 4 weeks. This month 3 I’m looking at closed within 48 hours.

I’d suggest a local agent but there’s plenty of choice and they will bite your hand off

[Esto]

Edinburgh is a brisk market which generally weathered the storms of the last decade and a half reasonably well.

I think think has been a slight slowdown over the last few months and the top of the end of the market is generally pretty slow (£1m+). Local agents are Retties, Savilles.

The middle market (family homes in the £300-600k bracket) is massively buyer-heavy so a property in that region should sell quickly. Local agents would be Gilson Gray or most of the traditional solicitors firms.

The lower end (under £300k) is still pretty brisk. Mov8 are a local agent who specialise in smaller cheaper flats and do a good job for a fixed price.

Hope that helps. I don't have any link to any of the named agents btw just thinking of some off the top of my head.

[Kinlocrhum]

That is really helpful. Much appreciated. I was thinking of using Simpson Marwick as I've dealt with them previously. Is their reputation still good?

[Esto]

S&M have merged with Clyde and Co but have retained the S&M name for residential property. As far I know they have a decent reputation, they're certainly a well-known name here. I'm sure they'd do a decent job.

Maybe have a trawl of similar houses to yours on Rightmove or ESPC (heavily used property site here) and see if any particular photos or presentation catches your eye.

When I've looked in the past I liked the look of Coulters and Gilson Gray - photos look smart.

[Sunbeam18]

Things seem to be selling pretty quickly

[666onmyhead]

If you are in Anne street I'll buy it !

[MoreProseccoNow]

Yep, the market is very strong - apparently at least 10-12% over the home report value in most areas, at a closing date.

Neilson's, Warner's, Coulters, Murray & Currie all have good reputations. I wouldn't use Mov8 or purple bricks.

[lastqueenofscotland]

Edinburgh is a good market and you’d still likely get above home report value. Have a look at how many are SSTC in a 1/4 mile radius of yours on rightmove to see how the areas going

[Esto]

Why wouldn't you use Mov8? They are not really comparable in any way to purple bricks... Mov8 are extremely successful at selling properties but do tend to specialise in smaller flats, particularly in Leith. It doesn't sound like that's what the OP is after anyway.

[FeeFee832]

Neilsons are EXCELLENT. Vouch for!

Defo do not use Gilson Grey!

[FeeFee832]

Also would avoid Rettie IMO!

[MoreProseccoNow]

And avoid anyone who doesn't advertise on ESPC.

Mov8 have a poor reputation locally - I remember doing a viewing with them & they didn't call to get feedback- for a house that had been on the market for many months.

If you are selling a property, you want an agent who will get the best possible price - not one that just advertises online & doesn't interact with buyers.

[Veterinari]

Mov8 aren’t great from a buyers point of view - no agents available to show properties. I’d agree with Neilsons and also add Braemore and mcdougall-macqueen as good agents.

The market is brisk depending on your price bracket I wouldn’t price much below the value that you actually want as it limits your buyer pool to those with LOTS of spare cash as most buyers can only mortgage up to the HR value - so ask for a sensible valuation

[Kinlocrhum]

This is all so helpful! Thank you everyone. I think I should just get on with it, and stick with the agent I already know. Otherwise I'm going to waste lots of time faffing around.

So regarding Brexit - you dont think it would make any difference is that right??

[Sunbeam18]

Brexit doesn't seem to be having much of an effect here regarding property selling. I think people are assuming that if hard Brexit happens then independence will follow.

[FeeFee832]

I don't think Brexit is having an effect. Our flat sold in 2 weeks :)