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Original poster

Edinburgh Property Prices

11 replies

LoopyGremlin · 29/11/2020 20:02

We are thinking of putting our house on the market in the new year. What sort of percentage over the home reports are houses (rather than flats) going for?

OP posts:
Shorternights · 29/11/2020 22:20

It depends what area you are in and what the school catchment is etc. But 15-20% over Home Report Value isn’t unusual. Best to speak to one of the many estate agents and get their advice

TheDuchessOfAquitaine · 30/11/2020 06:38

I think the post lockdown flurry seems to have dried up... depends on the property...4 bed family home detached with garden in a nice area / good catchment will always sell well over valuation. I know a couple of people trying to sell perfectly nice houses in nice areas who aren’t even getting any viewings never mind offers. Also know of 3 sales fall through in the last couple of months which I’ve never really seen much in Edinburgh before.

anon444877 · 30/11/2020 09:31

Would you be better off ringing ring a few estate agents to ask this? We know people who've sold quickly who presumably got a price they were happy with and people that haven't - I haven't asked them the percentage over HR though.

You can always try to sell and then take it off if you don't get what you want?

Original poster
LoopyGremlin · 30/11/2020 17:13

Thanks to all. I have heard anecdotally about houses in our area going way over valuation but my husband doesn’t believe me when I told him what I thought we might get. We are considering moving out of the area and moving to East Lothian or Midlothian to release some capital. Will call some agents for their opinion, but just wondered if any Mumsnetters had current insight into this.

OP posts:
Original poster
LoopyGremlin · 30/11/2020 17:14

@TheDuchessOfAquitaine

I think the post lockdown flurry seems to have dried up... depends on the property...4 bed family home detached with garden in a nice area / good catchment will always sell well over valuation. I know a couple of people trying to sell perfectly nice houses in nice areas who aren’t even getting any viewings never mind offers. Also know of 3 sales fall through in the last couple of months which I’ve never really seen much in Edinburgh before.
That does sound a little worrying.
OP posts:
anon444877 · 30/11/2020 17:48

There's always a bit of a lull this time of year though and there's the second set of tier 4s etc to deal with. A lot of it just depends on who is looking at the time you list it.

CoffeeSTAT · 30/11/2020 17:57

It depends what part of the market you're in. The higher end, probably £850k+ is quite slow, has been for a while, and gets slower the further up you go (depending on area).

Anything with 3 beds+ in the £300-600k bracket should be pretty popular once the market picks up for the spring. There's always a strong demand from families.

We moved out of Edinburgh 6 years ago and never, ever regret it. We get stick from our colleagues with a big snobbery thing going on but it's us with the beautiful house, views, lovely neighbours, great schools and amenities.

If we want Edinburgh it's 30 minutes on the train during the day or £45 in a taxi after a Christmas party.

That said, if prices in Trinity drop enough due to changes to WFH etc, I would consider moving back if something really special came up.

chestnutmares · 05/12/2020 23:10

Depending which bit of East Lothian, prices are v similar to Edinburgh at the moment so if you want to release capital Midlothian might be a better bet. Decent property in East Lothian is scarce and in high demand right now.

skeemee · 06/12/2020 16:23

We sold at end of September. Had a lot of good viewers, 5 notes of interest. Got a very good offer, pending sale of buyers flat in nice area. Gave four weeks grace for them to sign the missives.

Guess what? They didn’t sell, even at fixed price. So sale fell through (they didn’t tell us tho, but that’s another thread). Our property is back on the market. Not had a single viewing!

So I think it’s going to be new year before anything happens.

Gutted! Wish we had accepted one of the other offers. But buyer was so lovely and were assured that there was no problem with her flat. Unfortunately, flats don’t seem to be very popular now due to lockdown, so whole chain has ground to a halt. Grr 😖

Original poster
LoopyGremlin · 06/12/2020 20:09

@skeemee

We sold at end of September. Had a lot of good viewers, 5 notes of interest. Got a very good offer, pending sale of buyers flat in nice area. Gave four weeks grace for them to sign the missives.

Guess what? They didn’t sell, even at fixed price. So sale fell through (they didn’t tell us tho, but that’s another thread). Our property is back on the market. Not had a single viewing!

So I think it’s going to be new year before anything happens.

Gutted! Wish we had accepted one of the other offers. But buyer was so lovely and were assured that there was no problem with her flat. Unfortunately, flats don’t seem to be very popular now due to lockdown, so whole chain has ground to a halt. Grr 😖

So sorry to hear that, @skeemee. Good luck for the new year. 🤞
OP posts:
titsbumfannythelot · 06/12/2020 20:56

I'm sure it's just the time of year. January to April is the best time to sell, traditionally, so I'd wait until then to put the house on the market.

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