Tag: ESPC

Fresh Start is ESPC’s new charity partner

ESPC has announced that their charity partner for the upcoming year is Fresh Start, the North Edinburgh based organisation helping people who have been homeless get established in their new home.

They work with volunteers and organisations from across the local community to deliver a range of services that provide the practical and social support that help people resettle successfully. Each year they help thousands of new tenants settle into their homes.

Paul Hilton, CEO of ESPC, said: “We are really excited to be working with Fresh Start over the next year. The service they provide to the local community is fantastic. The whole team will get involved with volunteering and fundraising to help Fresh Start provide support to the thousands of new tenants they help settle into homes every year.”

Fresh Start’s Jen McQuistan said: “We are absolutely delighted to be selected as ESPC’s chosen charity for 2019/20. As a small local charity, the fundraising they’ll be doing throughout the year and the awareness raised will make a big difference to the people Fresh Start support.

“The ESPC team have already started planning some exciting fundraising events and we also hope to get them involved in Starter Pack collections and possibly some volunteering days throughout the year, so it is already set to be a successful partnership.

“All of this support will allow us to raise awareness of the issues surrounding homelessness and help fund direct service costs that help some of the most vulnerable people across Edinburgh.

“Through ESPC’s help we can make a real difference to those affected by homelessness and provide them with the social and practical support they need to move forward with their lives.”

 

 

Growing confidence in housing market

Homes selling more quickly as confidence grows

sold (3)

The property market in east central Scotland is growing in confidence, with an increased number of homes being sold and more properties achieving their Home Report valuation, according to the latest analysis by ESPC.

The number of new homes brought to market between the months of August and October 2015 increased by 1.6% annually, reversing the trend of year-on-year decreases seen since the House Price Report in May.

This follows a surge at the start of the year, then a dip over the summer in the number of homes being brought to market following the introduction of Land and Buildings Transaction Tax (LBTT).

‘Offers over’ is becoming the most popular as a way to market property, with 72% of properties brought to market with this pricing strategy, compared with 55% for the same period in 2014. Properties sold as ‘offers over’ are achieving an average of 6.2% over the asking price, up from 5.4% last year.

Maria Botha-Lopez, business analyst for ESPC, said: “This month’s House Price Report is continuing to demonstrate steady growth in the housing market in east central Scotland.

“As we have seen in previous reports, conditions are favourable for sellers with more homes being sold, which are taking less time to sell and are increasingly achieving their Home Report valuation.” 

Average prices across east central Scotland are also continuing to remain steady, with a 1.5% increase between August and October 2015 compared with the same period last year.  However, as with previous reports, there has been fluctuations in different areas of the region.

This time last year, the areas and property types that were showing the largest year-on-year increases in selling prices were three bedroom houses in Liberton and Gilmerton and properties in West Fife and Kinross. 

Now, three bedroom homes in South Queensferry and Dalmeny are showing a 3.3% growth, while the average selling price of three bedroom homes in Liberton and Gilmerton has increased 1%.

Two bedroom flats in Portobello and Joppa are once again among the areas and property types showing the largest year-on-year increases in selling prices, as are one bedroom flats in Dalry, Gorgie, Slateford and Chesser, which are becoming popular areas for first time buyers.

podcast discussing the report in detail:  

https://youtu.be/I0RTOXlywXg

Key points 

  • There has been a healthy 15.2% increase in the number of homes sold in east central Scotland between August and October 2015, compared with the same period last year
  • Average selling prices have increased by 1.5%, compared with the same three month period last year.
  • 58.9% of sales are now achieving their Home Report valuation.
  • Sellers are achieving an average of 0.4% over their Home Report valuation.
  • It’s taking less time to sell a property, with the median selling time now 33 days, seven days less than this time last year.

House sales: ‘strong start to year’ continues

House prices up 15% year on year

house sold

The latest figures from ESPC’s monthly House Price Report show that the strong start to the year has continued with the number of homes sold during February up 16% year on year. According to leading property marketing company, ESPC, the average selling price of property across the regions has also risen 15% compared to the same time last year.

Trends have revealed an increasing number of upper mid-market properties coming to the market ahead of the introduction of Land and Buildings Transaction Tax (LBTT) on 1st April this year. The number of new properties marketed in February with an asking price of over £300,000 was 53% more than February 2014.

Commenting on the report’s findings, Paul Hilton, ESPC CEO, said: “We have continued to see an increased volume of new listings with an asking price of over £300,000 marketed this month, with sellers hoping to attract buyers looking to take advantage of a lower tax bill.

“We expect to see this percentage increase start to slow next month with the change becoming more imminent and therefore allowing less time for a sale to conclude before the changes are implemented. Buyers must have settled their purchase before 31st March to pay tax under the current Stamp Duty regime. Any sales concluded after this date will pay tax under the new LBTT regime. Properties sold for over £333,000 will pay less tax before 1st April 2015.

“The median selling time in East Central Scotland is down by 12% during the three months up to and including February a year ago. Increased competition from buyers not only means quicker selling times but also more sellers achieving their Home Report valuations. The percentage of sales achieving their Home Report valuation in the same period rose from 60% a year ago to 69% today.

“Prices have increased year on year but have remained fairly consistent in the three months up to and including January. The average house price in Edinburgh for the three months to February was £216,021, up 15% annually.

“The outlying areas again have seen an increase in average selling price year-on-year. West Lothian has again seen a particularly sharp increase of 26%, up to £182,756 compared to £134,677 in the same period last year.”

The report’s key finings are:

  • The number of homes brought to the market saw an increase during the month of February.
  • The average selling price in East Central Scotland increased by 15% in the three months up to and including February year-on-year.
  • Seller activity saw a particularly sharp increase in the upper-mid market with new homes being marketed ahead of the imminent change to property tax.
  • The percentage of sales achieving the Home Report valuation remains strong at 69%.

HPR table Feb 2015