Lindsays records record-breaking month for home sales

Lindsays records record-breaking month for home sales

Maurice Allan

Lindsays has recorded its busiest ever month in the property market with sales topping £31 million in August.

The firm reported that home sales in August were up by 80 per cent compared with the same month last year.

It also recorded an increase in the value of the properties it sold by its residential property teams in Edinburgh and Dundee.

In Edinburgh, home sales during August rose by 150 per cent on the same month last year and the total value was almost double.

In Dundee, the collective value of home sales was up by 38 per cent on last years’ figures.

The sales across both cities had a total combined value of £31.45 million which was an increase of 114 per cent compared to the same period last year.

The figures are a welcome change after months of the house sales industry being “close to dormant” between March and June due to the lockdown restrictions. 

Maurice Allan, residential property managing director at Lindsays, said: “August has been an unprecedented month for us. The activity we have seen in has been quite exceptional.

“We expected demand to be high after restrictions that were in place at the height of the pandemic were eased - and there was always a feeling before that what we would see during lockdown was more of a pause in the market rather than a dip.

“That’s what has played out in July and August. If anything, the months of lower activity has created a bottleneck of demand, and the flurry of enquiries, viewings and sales we are seeing is the realisation of that.”

“We are seeing a good number of first-time buyers and, in common with what we have seen for some time now, the trend of people buying subject to the sale of their own property has continued too.

“We obviously don’t know what the future holds in terms of the wider economy, but what we are experiencing right now is a resilient and vibrant market, which we hope will leave us well placed to weather any challenges which may emerge.

“There are a great deal of positives to be had in the markets in which we operate right now, from both the sellers’ and buyers’ points of view.”

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