Edinburgh’s housing market closed the decade with activity between buyers and sellers at its highest level of the year with the rate of transactions “soaring”, according to a report by Warners Solicitors and Estate Agents.
Warners reported the final months of 2019 had the highest number of sales for the time of the year since the 2008 recession.
In the three months to November, Warners reached just shy of 300 successful sales, resulting in an annual increase of 43.7%.
In its last quarter of the financial year, Warners added 264 further homes for sales in Edinburgh and the Lothians.
David Marshall, operations director at Warners, said: “Over the last two years there has been a substantial improvement in the number of sellers choosing to put their home onto the market.
“There has also been a rise in the number of new-build properties becoming available for sale across Edinburgh and the Lothians. This rise in the supply of homes coming onto the market has helped to balance out the high demand for buyers.”
He added: “As a result the premiums that buyers need to pay to secure a home are lower and house price inflation has eased.”
Marshall said that Brexit proves a slight concern over the uncertainty with regards to the housing market.
He said: “In 2020 the prospect of Brexit looms once more. As previous deadlines were approached this year there was, somewhat surprisingly, very little disruption in the local property market.
“Often people will delay moving home during times of substantial political uncertainty but as each deadline approached in 2019, property sales and listings in Edinburgh and the Lothians remained strong.”