Robust homes market drives growth at Coulters
Coulters, the estate agency, has reported continuing high demand for homes despite the wider slowdown of the market.
It posted a 23.6% year-on-year rise in EBITDA for the 12 months to September with revenue up 2.5%, which chairman Mike Fitzgerald attributes in part to robust conditions in its key East Lothian market.
The company has seen a 17.6% increase in listings in the region, where the average home report is up by more than 42% compared to this time last year, while the average time from listing a property to it being under offer is 21 days.
Data from ESPC shows that the East Lothian market continues to perform well, with total sales in the region up 26%, and a 39% increase in homes selling for over £500,000 year-on-year.
Coulters has hired Di Jennings as senior property consultant in its East Lothian office, joining area director Sophie Duns. Ms Jennings spent 13 years growing Simpson & Marwick’s estate agency business in the county. For 10 yeares prior to that, she ran an interior design business.
Francesca Hill, previously senior valuer, has been promoted to area director for Edinburgh which will see her taking on management, training and development of Coulter’s Edinburgh team.
Mr Fitzgerald said: “Expanding and investing in our East Lothian office is a reflection of the increased demand we’ve seen in the area since opening two years ago.”