FOR the past seven years, home sellers could possibly be forgiven if they were less than truthful about their proximity to the tram works.
However, it seems the opposite is now true with Capital property owners lauding the tram as a key feature in their selling literature.
City estate agent Marwicks is the first to capitalise on the value of passing trams, showcasing the trains in its sales schedules.
Indeed, one newly- commissioned brochure shows a tram gliding past a property for sale on Coates Place, Haymarket.
The sales blurb for the four-bed £400,000 property boasts of its “central location, only a couple minutes’ walk from both the Haymarket and Coates Crescent tram stops”.
As a result of the property’s “excellent public transport links” between the city centre and airport the property is suggested to appeal to both businessmen or families as either a capital base or family home.
Last month, the Evening News revealed how property prices are set to rise by as much as 15 per cent along the route.
Mike Marwick, a senior partner with Marwicks Solicitors and also a member of the Cockburn Association’s transport committee, believes that it is to be expected that city home sellers push their property’s tram credentials as public perception of the trams slowly shifts – and the housing market heats up.
He said: “The introduction of tram systems throughout Europe has resulted in increased demand for properties close to tram routes. The public perception is that the introduction of a tram route is a positive and upmarket commitment to an area. Bus routes can come and go – tramlines are there to stay.”
He added: “In Dublin, the effect was noticeable within a very short space of time following the introduction of the first tram route, with agents reporting an uplift of around 15 per cent in house prices close to the route. It also resulted in one developer funding 50 per cent of the cost of one of the extensions simply to bring the tram within reach of the new homes.”
Property experts have suggested homeowners within a mile radius of the 8.7-mile route from the airport to York Place will see a “considerable positive impact” on the selling price of their home.
Those within 800-metre walking distance of a stop will see the biggest rise, while those within a mile are also expected to see increases in the short term.
Homeowners within two miles are also thought to see a knock-on effect, with the price of their property likely to increase in the long term.
Recent statistics from ESPC covering the period between February and April show that for the first time in almost four years homes are achieving a selling price equal to or above their Home Report valuation.
Be the first family to ride on the trams
The launch of the city’s first tram service for more than 57 years is a moment which will go down in Edinburgh history. Just as tales of the last trams in 1956 are shared by grandparents and grandchildren today, so stories of the start of the new line are sure to become part of family folklore.
And you could have a special place in that history by being the first family to travel on Edinburgh’s relaunched trams.
We have teamed up with Edinburgh City Council to offer four seats on the official launch of the service on Friday, May 30. Our winner and their loved ones will join city transport convener Lesley Hinds, Scottish Transport Minister Keith Brown, Edinburgh Trams general manager Tom Norris and other special guests for the first official journey from St Andrew Square to the airport and back.
Our competition winners will also be given a commemorative keepsake as a souvenir of their experience.
Councillor Hinds said: “This is a special milestone in the return of trams to the streets of Edinburgh and we’re delighted to be working with the Edinburgh Evening News to invite a local family to be a part of the occasion.”
To be in with a chance of winning, just write in no more than 300 words telling us why you would love to be a part of the tram launch. Perhaps you have been longing to take a journey since you spotted one passing through the city or maybe you have had a great experience with trams elsewhere and can’t wait to see Edinburgh getting in on the act.
Write to Tram Competition, Edinburgh Evening News, 108 Holyrood Road, EH8 8AS, or email firstname.lastname@example.org putting Tram Competition in the subject box.
All entries must be received by 5pm on Sunday, May 25. The Editor’s decision is final.