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THE PROPERTY MARKET

The House Price Report: November 2024
140 Over 580,000
We look at what’s been happening in the local property market solicitor estate agents 2,500 My ESPC emails
over the last three months.
ready to help you buy and
homes for sale sent during
sell homes November
he average property selling price Continuing a pattern we’ve seen over the
across Edinburgh, the Lothians, Fife past few months, property sales volumes
Tand the Borders saw a significant 5% across Edinburgh, the Lothians, Fife and In another sign of strong confidence in the What does it all mean for the property
annual boost during September-November the Borders increased once again, up 24% market, 82% of sellers chose to list their market?
2024, taking the new average to £286,263. compared to the same time last year. properties using the ‘offers over’ marketing Paul Hilton, CEO of ESPC, said: “This month’s
method (as opposed to listing for a fixed figures offer a fascinating insight into the current
West Fife & Kinross experienced an 11% Unsurprisingly (and continuing a trend price). property market. It’s clear to see that there’s one
annual rise to £228,389, while the Borders’ we’ve seen throughout 2024), two-bedroom standout region in West Fife & Kinross, and one
9% increase meant properties sold for flats in Leith were the top-selling property Properties for sale achieved 102% of their standout city that’s grabbing plenty of attention:
£214,973. Edinburgh’s average selling price type and most in-demand with buyers, with Home Report valuation on average. This is all signs are pointing to a real surge in popularity
enjoyed a 4% annual boost to £306,320, sales volumes up 49% on last year. just 0.6 percentage points less than at the for Dunfermline. The clear demand for houses
making it the most expensive region. same time last year, hinting at consistency is certainly suggestive of increasing numbers of
September-November appeared to offer a in the market. families relocating to the city, while the interest
Dunfermline offered a mix of results; strong market for buyers, with the volume of in two-bedroom properties certainly indicates
its average selling price was £228,574, properties coming onto the market increasing West Fife & Kinross was clearly in high that younger buyers are also interested in calling
a significant annual increase of 20%. again, this time by 7% year-on-year. demand with buyers, who paid the highest this city home.
However, two-bedroom flats in the city premium to live in this region; properties
were the most affordable properties on Dunfermline offered the greatest volume in the area achieved 104% of their Home “Elsewhere, it’s great to see yet another month
the market overall, coming in at £124,541 of insertions, up 17% compared to the same Report valuation. of high sales volumes and increasing property
on average. time last year. listings, showing in no uncertain terms that the
By contrast, the Scottish Borders offered the market remains incredibly active – something
best bargain, with homes achieving 99.5% of that should offer buyers and sellers alike plenty
their Home Report valuation on average. of reasons to feel confidence in their own
property journeys. Property prices have risen
Key points £286,263 The median selling time was 21 days, which overall compared to last year, but the premiums
is no change from the same period last year.
paid by buyers remain consistent, largely thanks
average selling price
West Fife & Kinross was the fastest selling,
to the increasing numbers of properties on the
at just 15 days. By contrast, neighbouring
market helping to maintain a level of balance.
Prices rose 5% annually during September-November.
East Fife was the slowest, taking 35 days to
go under offer. The autumn is typically a period where the
market begins to slow, so it’s great to see that
this autumn has bucked all the trends.
102% 21 days Two-bedroom houses in Dunfermline were
average percentage of Home median time to sell the quickest sellers, with a median time of “As ever, if you’re considering buying or selling a
Report valuation achieved nine days. property in Edinburgh, the Lothians, Fife and the
Borders, consult your local ESPC solicitor estate
0.6 percentage points lower than No change from the same time 22% of properties for sale went to a closing agent for the most up-to-date information and
last year, in good news for buyers. last year.
date, which is one percentage point higher local market insights.”
than at the same time last year.
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