Edinburgh sells fast, but elsewhere is a different story

Kirsty Mcluckie on the agonies of unloved homes

One of the perils of writing about residential property in a relatively small country is that there are a finite number of notable homes to cover.

Having been in this job for a number of years, I also see the same properties coming back onto the market and nothing makes me feel older than an owner saying they bought their home after seeing an article, written by me, since when they’ve moved in, raised a family and decided to sell again.

In searching for properties to feature this week, a familiar address caught my eye and I checked back because I was sure I’d written about it before, and quite recently.

Turns out that we featured the property in 2014, so it is entirely possible that it was sold, has been lived in for those years and now the owners have decided to move on. But what if it didn’t? The house in question is rural, and an unusual set up. Quirky homes tend to either sell quickly – perhaps even for an inflated price – as buyers compete over its original character, or they don’t quite suit anyone at all and languish on the market.

A recent report by Twentyci has revealed the varying time it can take for homes to sell around the UK, and there’s a huge difference of 133 days between the fastest and slowest-selling areas.

The Home Mover report, comparing various elements of the property market in England, Scotland and Wales during the second quarter of 2018, found that those trying to sell a home in East London had to wait an average of 220 days before going under offer.

This compares with an average of just 87 days for properties being sold in Edinburgh, the fastestmoving city in the study.

Certain types of property and areas in Edinburgh are undoubtedly having a moment, and with popular areas such as the New Town or Stockbridge, unlikely to expand their current stock of properties by very much, due to planning restrictions and geographical boundaries, it is difficult to see how these places will ever fall out of favour.

But for less popular areas of the country, and less sought-after types of home, the prospect of a property sitting on the market for months – if not years – is a real one.

I’ve always been told that if a property doesn’t sell it is either with the wrong agent who hasn’t marketed it properly, or it is the wrong price.

But after re-advertising, changing your agent, dropping the price or taking the property off the market for a time there are few options left.

Renting out a home if you do need to relocate may be one solution or, if there are identifiable problems preventing the sale, remodelling or upgrading if you can afford it.

But some homes without any major structural problems or disadvantages of location still have difficulties selling.

A neighbour had a beautiful two-bedroomed elevated property which took years to sell, because young families required more space and downsizers didn’t fancy the steep stairs up to the front door.

A suitable buyer did eventually come along, but the years that the for sale sign was up must have been so depressing for the owners.

For anyone currently in this position, you have my sympathy. Perhaps the lesson is that there will be a buyer for every property – eventually.