Local knowledge key to beating slump

By Heather Rose
Posted: 2008/10/13

DESPITE the economic downturn, property sellers can discover a ray of optimism in some areas of the housing market - provided they are patient, realistic and have a good local knowledge.

That is the view of Gill MacLean, property investor and founder of Practical Legal Solutions, which was established three years ago to provide a local community solicitor's office in central Edinburgh.

Now she has launched a related venture, PLS Property, with its first centre opening in the Newington area of the Capital.

Although this might not be considered the best of times to make such a move, Gill MacLean views expansion into estate agency as a natural progression fuelled by market demand. "The market in Edinburgh may be slower than it has been in recent years, but it is not dead, " she said.

"As an Edinburgh-based solicitor and a buy-to-let investor, I have received a steady stream of inquiries from homeowners keen to sell as well as from would-be buyers looking to move to or invest in the Capital.

"The creation of PLS Property as a sister company was a natural next step and, as I am passionate about property development myself, one I am extremely excited about.

"Scotland, and Edinburgh in particular, has its own unique marketplace, and acute knowledge of the area and its market dynamics is essential for successful selling.

"Yes, sellers may have to be more patient than they were a couple of years ago. They may need to adapt their expectations.

"But they can also remain optimistic about selling their property in Edinburgh.

"The fact remains that Edinburgh is a dynamic financial, political and cultural centre, as well as an attractive city to live in, and people will always have reasons to buy property here, whether for a home or for investment."

INFORMATION:
0131 667 7070; www. plsproperty. co. uk