How to find out what is the market like?

[sundaymorningbliss]

Hello, so, finally after years of renting I'm in a position to buy. Not a first time buyer, but previous property I owned years ago was a new built.

I won't be able to afford the new build this time, all fine, but I have no idea were to start!

I'm in Scotland.

I have found a mortgage broker with good reviews and have a decision in principle agreed.
I'm looking to move around 30 Miles away from where I currently rent.

How do I find out what is the property market like in the town where I want to move into?
I mean, if it comes to submitting a bid, how would I know how much I should put forward? How to find the prices of properties sold v their home reports? Not specifics of course but the general trend. Would it be something the solicitor could guide me on?

Apologies if it doesn't make sense, feel like walking in the dark when you start!

When we bought in Edinburgh some years ago we just followed ESPC listings/rightmove (ESPC is local, your part of Scotland might have similar) and asked our local solicitor for advice. You can also look up sold prices in the area (there is a 3 month or so lag). A good local solicitor will know roughly what the market is doing.

Forgot to say that you should also look at the home report you get for the properties to give you an indication of the valuation. Your solicitor should have an idea of whether stuff sells above or at home report value.

A local solicitor can guide you but also can check out these sources:

Sold prices:
scotlis.ros.gov.uk

Gov stats:
www.gov.scot/publications/scottish-housing-market-review-q1-2023/pages/3/