NO UP FRONT FEES ESTATE AGENCY

WEST LOTHIAN PROPERTY UPDATE

JUNE 16

CURRENT HOUSE PRICES IN WEST LOTHIAN

In the aftermath of the EU referendum there are many unanswered questions which may determine the direction of the UK housing market.

Some Market Info:

Total properties For Sale in West Lothian - 316

Properties Listed in last 14 Days  - 61

Average Price of properties listed - £199,129

Average Time on Market - 144 Days

 *Property data in this report has been compiled from www.Home.co.uk

ARE HOUSE PRICES GOING UP?

•Asking prices have been steadily rising across West Lothian over the past 12 Months.

•Flats have performed best over the last 12 months with an impressive 19% growth in asking price.

IS THE MARKET HOTTING UP?

*This graph displays the average time on market for unsold property for sale in West Lothian for each month from June 2015 to June 2016. 

•Average Time on the Market has been decreasing across all property types.

•Semi Detached properties have seen the best improvement with a decrease in Time on the Market of 32%.

HOW QUICKLY WILL MY HOUSE SELL?

*Selling times for homes in West Lothian represent the actual time taken from a property coming onto market to reaching a sold status as tracked in the Home.co.uk property search. Time to Sell is distinct from Time on  Market as only properties that have achieved a sold status are included in the analysis.

•Average Selling Time is currently 80 Days.

•Properties in the £400k + Bracket take the longest to sell.

WEST LOTHIAN MARKET SUMMARY

•Asking prices have been steadily rising across West Lothian over the past 12 Months.

•Average Time on the Market has been decreasing across all property types over the same time period.

•Average Selling Time is currently 80 Days.

ALBA PROPERTY VIEW...

•The market may have slowed a little over the past 1-2 weeks pre-vote, perhaps due to a ‘ lets wait and see ‘ attitude felt by both buyers and sellers.

•Its probably still to early to determine the long term impact of the result on the local housing market .

•However, Buyers are still Making Offers & Sellers are still bringing their properties to market.

•The factors which have given us a strong and improving market over the past 12 months – Low interest rates and High employment rates are still with us.

•West Lothian’s housing market will continue to thrive!