June 27, 2022


A SCOTTISH estate agency has recorded history high figures of £17m-a-thirty day period as the housing desire carries on to outweigh the provide.

Lindsays saw the file high revenue as the worth of households marketed by the Scottish estate agency and authorized company topped £200m for the 1st time.

The firm states the new file substantial was accomplished “amid ongoing rigorous bidding amongst buyers” as demand outstrips home source in lots of parts throughout the country.

Lindsays accomplished sales of homes truly worth a merged total of £207m in the monetary 12 months 2021/22, from its places of work in Edinburgh and Dundee, up £30m from 2020/21.

Andrew Diamond, Partner and Head of Residential Property at Lindsays.
Andrew Diamond, Husband or wife and Head of Residential Home at Lindsays, says the organization is “delighted with the results”.

That increase – representing sales of £17.2m-a-month – is fuelled largely by competitiveness in the money.

The overall variety of properties marketed was 1% higher than the report-breaking transactions recorded 12 months earlier.

Although the range of revenue by Lindsays’ Residential House crew in Edinburgh increased 2.3%, the complete values jumped by a quarter from £102.5m to £129.6m.

The average house cost in Edinburgh was £314,798.

Notable income in the capital included a detached five-bedroom dwelling in Craiglockhart, which sold for £720,000 – £190,000 more than its asking selling price and 31% bigger than its house report valuation.

In Dundee, the sector remained buoyant with values up to £77.4m, with the typical sale value becoming £181,849.

Andrew Diamond, Spouse and Head of Household House at Lindsays, claimed: “It’s been an incredibly occupied calendar year. We are delighted with the success we have obtained.

“The opposition we are seeing in Edinburgh is rather phenomenal and demonstrates no signs of slowing in the shorter-expression.

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“It’s not unconventional to have concerning 10 and 15 prospective purchasers bidding on a assets.

“That’s driving the charges up. As factors stand, there’s more demand than there is offer, which is why people today are going more with their bids.

“Those seeking to provide houses can expect to realize a sound return across most regions of Edinburgh correct now.”

Life style conclusions designed for the duration of the Covid-19 pandemic – with extra people wanting for residences with gardens as they operate from household – have been an ongoing element in the continued competitors throughout much of the very last economic calendar year, Lindsays say.

Hottest figures from the Workplace of Nationwide Data show that dwelling price ranges in Scotland rose by an ordinary 11.7% to £181,000 in February – larger than the United kingdom ordinary rise of 10.9%.