local View • 2014 WELCOME TO LOCAL VIEW WHERE DO OUR BUYERS COME FROM? MEET THE TEAM

Welcome to the latest edition of Local View, our seasonal update on the property markets that matter to you. Along with a brief review of activity in Edinburgh, we have also included a preview of just Edward Douglas-Home Head of Edinburgh City Sales some of the beautiful properties we currently have available. Please contact your local team for more T +44 131 222 9606 information and to find out what other opportunities we can offer. [email protected]

have also been performing well, especially up to £1,000,000. Across Edinburgh, the market for properties worth above “I am very proud of the performance of the Edinburgh City Neil Scott £1,000,000 has been more varied. We have achieved a couple team during the past year. 2013 was our most successful Negotiator of fantastic results on prime villas on the south side in the 59% 34% 7% T +44 131 222 9620 year ever and we look forward to building on this success London and International region of £2,600,000, as well as prime townhouse sales in the [email protected] whilst continuing to provide a first class service to our clients Rest of the UK likes of Regent Terrace and Ann Street. This shows buyers at the and buyers. The Edinburgh market is increasingly positive top end of the market are beginning to appear again after a and we look forward to helping our clients achieve the best number of years where prime sales were few and far between. possible results in the coming year.” SALES BY PRICE BAND Central townhouses from £1,000,000 to £1,750,000 have been Toby Speke Edward Douglas-Home changing hands relatively quickly, while vendors in the less Negotiator Head of Edinburgh City Sales central residential areas have occasionally needed to allow a T +44 131 222 9618 little longer for their houses to find the right buyers. While the [email protected] market is increasingly buoyant, sensible marketing prices are During 2013 we experienced a significant improvement in still essential in order to generate the right level of interest. the Edinburgh property market. At Knight Frank our sales Aim too high and buyers will hold back from viewing. figures for the calendar year ended at 62% up on 2012. Buyers Ran Morgan The excellent schools and quality of life that Edinburgh offers registering with us increased by 58% and the number of Office Head continues to draw people in from around the UK and overseas. properties on our books was up by 42%. These figures are not T +44 131 222 9600 Despite the uncertainty created by this year’s independence 41% 37% 22% only indicative of the improving market as a whole but also Under £500k £500k - £1m Over £1m [email protected] vote, we are finding an increasing number of people moving our increasing market share which has come as a result of our to Scotland, in particular Edinburgh. Our national and high profile office, expanding team and marketing campaigns. international network of offices gives us unrivalled access to We have every reason to feel positive about the year ahead WHAT ARE OUR BUYERS LOOKING TO SPEND? buyers from all over the world. This is vital to our clients due as confidence in the market continues to grow with increasing Charlotte Thomas to Edinburgh increasingly being considered an international numbers of applicants registering with us to buy. Edinburgh is City Team Assistant investment hotspot and as it becomes an ever more appealing leading the recovery in Scotland and our research department T +44 131 222 9605 option as prices soar in London. predicts a 6.3% rise in values during 2014. [email protected]

In 2013 the best trade for city centre properties was in the £300,000 to £800,000 bracket. Buyers have been keen to buy as centrally as possible before prices start to climb. Closing For your free market appraisal please call +44 131 222 9600 Antonia Lambert dates in this sector have been increasingly apparent as have City Team Assistant sales in excess of home report valuations. Popular residential Knight Frank Edinburgh 68% 27% 5% T +44 131 222 9607 Under £750k £750k - £2m Over £2m areas such as Morningside, Grange, and Trinity 80 Queen Street, Edinburgh EH2 4NF [email protected]

2 | Local View Local View | 3 a lifestyle choice

NORTHUMBERLAND STREET ROAD NORTH GRANGE LOAN ST. VINCENT PLACE CRAMOND ROAD NORTH GUIDE PRICE NORTH EAST NORTH EAST LANE OFFERS IEO CRAMOND GRANGE NEW TOWN CRAMOND £1,345,000 GRANGE NEW TOWN £1,750,000

n the UK, sustainable features have been rising steadily on the buyer’s wanted Why eco-friendly list in recent years. Additions such as wood chip boilers and ground source heat I pumps have gone from a curiosity to becoming a compelling selling point. is also The result has been a significant cut in the time it takes to sell homes with buyer-friendly eco-friendly credentials. Rising energy bills and environmental concerns have been two of the twin drivers behind this change. They have helped to fuel the ever-rising numbers of sustainable homes being developed in the UK, and have generated a wider understanding among buyers of the advantages.

The savings in terms of running costs can be significant, running into thousands of pounds a year for larger properties. Good insulation, an up-to-date boiler and double-and triple-glazed windows are some of the more common features buyers are looking out for. Some homes have also capitalised on the generous feed in tariffs which offer buyers the incentive of lower electricity bills along with a steady source of income.

This shift in thinking is being reflected in sales figures and is particularly marked when we analyse Energy Performance Certificate scores. Since 2010 we have seen offers being made up to 15% faster on homes that have good EPC scores against those that are performing less well.

In the countryside, the trend is less pronounced. This is most likely because those who live in the countryside see it as a lifestyle choice and will choose a traditional period property with all its environmental drawbacks over a contemporary home with eco-features. At the same time, we are seeing an increase in the popularity of properties that offer the best of both worlds – period features with 21st century updates such as wood chip boilers and state of the art insulation.

In Edinburgh, we have marketed a wide range of ‘green’ properties, from brand new eco-homes to older properties featuring the latest eco-thinking. We understand the importance of the trend and know how to promote it to the best effect and reach the buyers who are motivated by sustainable features. If you have an eco-friendly property, or are looking for one, we would be delighted to help.

4 | For your free market appraisal please call +44 131 222 9600 or visit KnightFrank.co.uk/edinburgh-resi A SELECTION OF PROPERTIES for sale

3. Kinnear Road 4. Barnton Avenue  BARNTON PROPERTIES FOR SALE IN Edinburgh Below we highlight just a small selection of properties currently for sale in Edinburgh with Knight Frank. Please call to find out about other properties we have available which suit your requirements.

1. Hermitage Drive 2. Belgrave Crescent 5. Drive 6. Drumsheugh Gardens MORNINGSIDE WEST END MORNINGSIDE WEST END

1 Exceptional detached period 2 An exemplary flat, beautifully 3 A contemporary lateral 4 A large and impressive 5 A charming family house 6 A stunning three bedroom villa with tennis court. presented and with stunning apartment with outstanding detached family villa in a with garden and garage. flat with castle views. EPC rating F. views. EPC rating C. views. EPC rating B. prime location. EPC rating F. EPC rating E. EPC rating E.

ww4 reception rooms ww3 reception rooms wwReception room ww4 reception rooms ww2 reception rooms wwReception room ww7 bedrooms ww4 bedrooms ww3 bedrooms ww6 bedrooms ww3 bedrooms ww3 bedrooms ww4 bathrooms ww2 bathrooms ww3 bathrooms ww4 bathrooms wwBathroom ww2 bathrooms wwTriple garage wwCommunal garden wwSouth facing balcony wwConservatory wwGarden wwCommunal garden wwLandscaped garden with wwSecure underground parking wwLarge front and rear gardens wwGarage garden room, potting shed wwElectric security gates and gazebo wwAll weather tennis court

Approximately 6,231 sq ft Approximately 2,636 sq ft Approximately 1,989 sq ft Approximately 5,326 sq ft Approximately 1,663 sq ft Approximately 1,442 sq ft

OFFERS OVER £2,600,000 OFFERS OVER £875,000 OFFERS OVER £895,000 OFFERS OVER £1,950,000 OFFERS OVER £525,000 OFFERS OVER £425,000

6 | Visit ‘My Knight Frank’ at KnightFrank.co.uk/edinburgh-resi to register for alerts on the best properties for sale and research from around the world For your free market appraisal please call +44 131 222 9600 or visit KnightFrank.co.uk/edinburgh-resi | 7 A SELECTION OF PROPERTIES for sale

7. Lennel Avenue 8. Johnsburn House 11. Inverleith Place 12. Carlton Terrace MURRAYFIELD  inverleith new town

9. Pentland Avenue 10. North Castle Street 13. Braid Avenue 14. Forres Street  new town MORNINGSIDE new town

7 A spacious main door 8 Exemplary and beautifully 9 A charming and characterful 10 An immaculate main door 11 A stunning main door 12 A Georgian townhouse 13 A fantastic family home 14 A main door Georgian upper villa with garden. refurbished period house detached Sir Robert Lorimer three bedroom flat. apartment with a prime at its best. EPC rating D. presented in beautiful townhouse in Edinburgh’s EPC rating E. with cottage. EPC rating D. villa. EPC rating D. EPC rating D. address. EPC rating D. condition. EPC rating D. renowned New Town.

ww2 reception rooms ww4 reception rooms ww3 reception rooms ww2 reception rooms wwReception room ww3 reception rooms ww4 reception rooms ww3 reception rooms ww3 bedrooms ww5/6 bedrooms ww5 bedrooms ww3 bedrooms ww3 bedrooms ww4 bedrooms ww5 bedrooms ww5 bedrooms ww2 bathrooms ww4 bathrooms ww2 bathrooms ww2 bathrooms ww2 bathrooms ww3 bathrooms ww2 bathrooms ww3 bathrooms wwGarden with summer house wwSeparate cottage wwFront and rear gardens wwPrivate balcony wwCommunal garden including wwGarden wwPrivate garden wwGarage wwTriple garage wwDouble garage wwCommunal garden an all weather tennis court wwOff street parking wwCommunal gardens wwLandscaped gardens wwSecure off street parking

Approximately 1,498 sq ft Approximately 5,971 sq ft Approximately 3,073 sq ft Approximately 2,346 sq ft Approximately 1,819 sq ft Approximately 4,808 sq ft Approximately 3,212 sq ft Approximately 4,816 sq ft

OFFERS OVER £399,000 OFFERS OVER £1,750,000 OFFERS OVER £1,095,000 OFFERS OVER £545,000 OFFERS OVER £750,000 OFFERS OVER £1,150,000 OFFERS OVER £835,000 OFFERS OVER £1,450,000

8 | Visit ‘My Knight Frank’ at KnightFrank.co.uk/edinburgh-resi to register for alerts on the best properties for sale and research from around the world For your free market appraisal please call +44 131 222 9600 or visit KnightFrank.co.uk/edinburgh-resi | 9 A SELECTION OF RECENTLY SOLD PROPERTIES

5. Ann Street SOLD 6. Trinity Grove SOLD GUIDE PRICE OFFERS OVER STOCKBRIDGE £1,100,000 TRINITY £375,000 PROPERTIES SOLD IN Edinburgh Our track record has always set us apart from our competitors and illustrated below is an impressive selection of properties we have recently sold in Edinburgh.

1. Barnton Avenue SOLD 2. Rothesay Terrace SOLD 7.  Road SOLD 8. Regent Terrace SOLD OFFERS OVER OFFERS OVER OFFERS OVER OFFERS OVER BARNTON £1,150,000 WEST END £450,000 GRANGE £745,000 NEW TOWN £1,750,000

3. Ormidale Terrace SOLD 4. Great King Street SOLD 9. Blacket Place SOLD 10. Nile Grove SOLD OFFERS OVER OFFERS OVER OFFERS OVER OFFERS OVER MURRAYFIELD £795,000 NEW TOWN £625,000 NEWINGTON £1,000,000 MORNINGSIDE £725,000

10 | Visit ‘My Knight Frank’ at KnightFrank.co.uk/edinburgh-resi to register for alerts on the best properties for sale and research from around the world For your free market appraisal please call +44 131 222 9600 or visit KnightFrank.co.uk/edinburgh-resi | 11 A SELECTION OF RECENTLY SOLD PROPERTIES

11. Arboretum Road SOLD 12. Glencairn Crescent SOLD 17. Grange Loan SOLD 18.  Terrace SOLD OFFERS OVER GUIDE PRICE OFFERS OVER OFFERS OVER INVERLEITH £1,050,000 WEST END £1,400,000 GRANGE £1,750,000 BRUNTSFIELD £1,300,000

13. Danube Street SOLD 14. Heriot Row SOLD 19.  Crescent SOLD 20. Upper Coltbridge Terrace SOLD OFFERS OVER OFFERS OVER  GUIDE PRICE  OFFERS OVER STOCKBRIDGE £1,150,000 NEW TOWN £625,000 NEW TOWN £1,000,000 MURRAYFIELD £895,000

15. Lansdowne Crescent SOLD 16. Blacket Place SOLD 21. Ettrick Road SOLD 22. Albany Street SOLD GUIDE PRICE OFFERS OVER GUIDE PRICE OFFERS OVER WEST END £725,000 NEWINGTON £950,000  £3,000,000 NEW TOWN £875,000

12 | Visit ‘My Knight Frank’ at KnightFrank.co.uk/edinburgh-resi to register for alerts on the best properties for sale and research from around the world For your free market appraisal please call +44 131 222 9600 or visit KnightFrank.co.uk/edinburgh-resi | 13 Selling, letting, consulting and research Knight Frank services

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SCOTLAND & HOME COUNTIES Hyde City Park Head Office NORTH ENGLAND Ascot* Notting Hill Marylebone Canary Edinburgh Esher* Wharf Kensington Mayfair Lauder Cobham* (GLQEXUJK South Wapping Coverage Aberdeen† Virginia Water *ODVJRZ Belgravia Global /DXGHU Kensington Glasgow† Haslemere Knightsbridge Chelsea Newcastle upon Tyne† Horsham Battersea Guildford* 1HZFDVWOH XSRQ7\QH Fulham Riverside NORTHERN ENGLAND Tunbridge Wells Richmond Harrogate Sevenoaks London Offices Leeds† Berkhamsted Manchester† Beaconsfield* Wandsworth Sheffield† Henley* Local Milton Keynes† CENTRAL Wimbledon Global Headquarters Cirencester SOUTH WEST 55 Baker Street Cheltenham Hungerford +DUURJDWH London W1U 8AN Reach Oxford Basingstoke /HHGV Worcester Winchester T +44 20 7629 8171 0DQFKHVWHU Hereford Exeter 6KHIILHOG Stratford-upon-Avon Bath Stow-on-the-Wold Bristol Birmingham† Sherborne Cardiff†

%LUPLQJKDP * Indicates offices with both sales and lettings teams 6WUDWIRUGXSRQ$YRQ † Commercial offices :RUFHVWHU 6WRZRQWKH:ROG +HUHIRUG 0LOWRQ.H\QHV 2[IRUG &KHOWHQKDP %HUNKDPVWHG &LUHQFHVWHU %HDFRQVILHOG +HQOH\ $VFRW LONDON &DUGLII %ULVWRO +XQJHUIRUG (VKHU 9LUJLQLD %DWK &REKDP 6HYHQRDNV %DVLQJVWRNH :DWHU *XLOGIRUG 7XQEULGJH :HOOV :LQFKHVWHU +DVOHPHUH +RUVKDP 6KHUERUQH Whether you are buying a beautiful house for personal enjoyment or want to invest in a portfolio of rental properties, we can help. ([HWHU

BUYING AND SELLING RESIDENTIAL RENTING, LETTING AND MANAGING CONSULTING AND PROFESSIONAL SERVICES PROPERTY RESIDENTIAL PROPERTY Our world-class research team ensures that we ww Finding a property to buy ww Finding a property to rent lead the field in understanding the key drivers of ww Financing your purchase ww Arranging a tenancy the residential property market. This means that ww Property search and acquisition ww Rental property for corporates we price and market property to deliver a sale or ww Services for international buyers ww Relocation services rental in the most effective way. ww Investing in property portfolio ww Valuations ww Valuations ww Services for landlords ww Valuations IMPORTANT NOTICE ww Letting your property ww Rural consultancy Property in central London please contact ww Property management ww Country house consultancy 1. Particulars: These particulars are not an offer or contract, 3.  Regulations etc: Any reference to alterations to, or use Knight Frank LLP is a limited liability partnership registered in w Noel Flint on +44 20 7861 5020 ww Lettings management w Renewables and sustainability nor part of one. You should not rely on statements by of, any part of the property does not mean that any England with registered number OC305934. Our registered ww Leasehold reform Knight Frank LLP in the particulars or by word of mouth or necessary planning, building regulations or other consent office is 55 Baker Street, London, W1U 8AN, where you may UK property outside of London please contact For more information on renting, letting and ww Property research in writing (‘information’) as being factually accurate about has been obtained. A buyer or lessee must find out by look at a list of members’ names. This report is published David Peters on +44 20 7861 1067 property management with Knight Frank Rupert Sweeting on +44 20 7861 1078 please contact To find out more about Knight Frank’s the property, its condition or its value. Neither Knight inspection or in other ways that these matters have been for general information only and not to be relied upon Frank LLP nor any joint agent has any authority to make properly dealt with and that all information is correct. in any way. Although high standards have been used in UK farms and estates please contact Tim Hyatt on +44 20 7861 5044 consultancy services contact James Thompson on +44 20 7861 1075 any representations about the property, and accordingly the preparation of the information, analysis, views and Clive Hopkins on +44 20 7861 1064 4.  VAT: The VAT position relating to the property (where any information given is entirely without responsibility on projections presented in this report, no responsibility or COMMERCIAL PROPERTY SERVICES applicable) may change without notice. Whilst every effort Property outside of the UK please contact the part of the agents, seller(s) or lessor(s). liability whatsoever can be accepted by Knight Frank LLP for NEW HOMES AND RESIDENTIAL has been made to ensure the accuracy of the information Paddy Dring on +44 20 7861 1061 any loss or damage resultant from any use of, reliance on Through our global alliance with US based DEVELOPMENT 2. Photos etc: The photographs show only certain parts contained in this publication, the publisher cannot accept Knight Frank’s property search service contact or reference to the contents of this document. As a general Newmark Grubb Knight Frank, the Commercial of the property as they appeared at the time they were responsibility for any errors it may contain. All rights Philip Selway on +44 20 7591 2647 division of Knight Frank encompasses over For more information about our residential report, this material does not necessarily represent the view taken. Areas, measurements and distances given are reserved. No part of this publication may be reproduced, 370 offices worldwide. development team please contact of Knight Frank LLP in relation to particular properties or For more information about financing and approximate only. Any computer generated images (CGI) stored in a retrieval system, or transmitted in any form Stephan Miles-Brown on +44 20 7861 5403 projects. Reproduction of this report in whole or in part is mortgage options with Knight Frank Finance, are indicative only. or by any means, electronic, mechanical, photocopying, To find out more about Knight Frank’s not allowed without prior written approval of Knight Frank to please contact recording or otherwise, without prior permission of Knight commercial property services contact the form and content within which it appears. Simon Gammon on +44 20 7268 2581 John Snow on +44 20 7861 1190 Frank LLP, 55 Baker Street, London W1U 8AN.

14 | Visit ‘My Knight Frank’ at KnightFrank.co.uk/edinburgh-resi to register for alerts on the best properties for sale and research from around the world For your free market appraisal please call +44 131 222 9600 or visit KnightFrank.co.uk/edinburgh-resi | 15 loan against fine wine

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3416 KFF edit to Country view back cover.indd 1 06/12/2013 17:05