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Press release: Moving during the recession
13 Apr 09
Unless you happen to live under a rock, you'll have noticed the media coverage of the current recession and the property price crash.
However, despite what the newspapers might have to say, Edinburgh appears to have winners and losers of the recession. Who are the winners then? That title would go to the property buyers because provided they can get their hands on the cash, buyers can pick up property at knock down prices within the capital city, even in previously much sought after locations including Stockbridge, Comely Bank and the prestigious Marchmont area.
Figures published by the Edinburgh Solicitors Property Centre at the end of March reveal an average house price of £194,683. That's a 12.6 percent decrease on last year. To worry sellers even more, the ESPC also note that only one in every five properties they sell actually achieves its fixed price.
So, it's a time for buyers? Yes and not just in property. Because of the recession, almost every industry has been forced to discount its prices to keep the tills ringing. You can pick up some great deals on home furnishings, cars and even utilities like broadband internet and phone lines.
What about the actual costs of moving home? Unsurprisingly, estate agents are having a hard time too. Previously, you never really had a choice when it came to estate agent fees but now there is very much room for negotiation. Make sure you shop around and ensure you're getting the best percentage price or even better a flat rate fee.
How about removal costs? You can save large amounts of money by packing your home up yourself. Buy the materials from a self storage facility or even your chosen removal company, the best removal companies tend to offer box rental services saving you from outlaying money for something which will eventually end up sitting in the garden shed.
When choosing your removal company, remember to check with your family and friends for recommendations. Look for local companies rather than larger national operators. On receiving the quotations, you'll notice the price difference immediately but don't go straight for the lowest price, make sure you get the best value for money. Check for insurance, manpower and most importantly their reputation.
Michael Millar is a founder of Move2, an Edinburgh based removals company. Find out more about Removals Edinburgh.
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