Page 17 - ESPC Magazine Dec 2020

THE PROPERTY MARKET

Pittencrieff Park, Dunfermline
HOUSE PRICE REPORT NOVEMBER 2020

Find out the latest property market statistics for Edinburgh, the Lothians, Fife and the Borders.

Over the past three months, the average
KEY POINTS property selling price in Edinburgh, the
Lothians, Fife and the Borders has risen
9% year-on-year to £268,923. Dunfermline
properties experienced a significant
increase in average selling price compared
£268,923 to last year, rising by 19.3% to £184,598.

average A 12.3% increase in the average Home
selling price Report valuation in the Fife town in
recent months indicates that higher value
properties on the market may have been
From September to November 2020, part of the reason for this increase, but
the average property selling price in Edinburgh, shorter selling times and an increase
the Lothians, Fife and the Borders rose by 9% in the average Home Report valuation Lothians, Fife and the Borders increased by bedroom flats in Portobello and Joppa
year-on-year to £268,923. achieved suggest that increased demand 31.6% compared to the previous year. This achieved 106.7% of Home Report valuation
was also a factor. steep increase reflects how busy the market on average, up 0.5% compared to last year.
has been in recent months.
Properties in the wider West Fife & Kinross Paul Hilton, CEO of ESPC, said: “Over the past
31.6% area saw a 19% increase in average There is still a significantly higher number of three months, there has been a significant
property selling price compared to last homes coming to market compared to last uptick in property sales volume in Edinburgh,
rise in volume of year, while East Fife homes saw an 18.6%
property sales year. Over the past three months, ESPC noted the Lothians, Fife and the Borders. This
rise. a 42.1% year-on-year increase in properties reflects how busy the market has been over
listed in Edinburgh, the Lothians, Fife and the summer and autumn months.
Other areas also saw reasonably strong the Borders. There was a 55.5% increase in
Between September and November 2020, increases, with Midlothian properties Edinburgh homes coming to market. “Activity is calming down a little in the run up
the volume of property sales in Edinburgh, recording an average selling price of to Christmas, which is to be expected, but our
the Lothians, Fife and the Borders increased £234,778 from September to November In Edinburgh, the Lothians, Fife and the agents have reported remaining very busy
by 31.6% compared to last year. 2020, up 14.2% compared to last year. Borders, the median time for a property to be for this time of year. This is indicated by the
In the Scottish Borders, while the price placed under offer over the last three months number of new property listings over the last
growth was less pronounced than in our was 17 days, four days faster than last year. three months, up by over 42% compared to
October House Price Report, there was a In the Borders, it was 30 days compared to 2019.
42.1% 12.1% increase year-on-year. 94 last year, while Edinburgh properties saw
median selling times drop to 16 days, three
increase in “From September to November, the average
homes coming During the past three months, properties days faster than last year. property selling price in Edinburgh, the
to market in East Lothian and West Lothian saw a Lothians, Fife and the Borders rose by
year-on-year average price increase of The average percentage of Home Report 9% year-on-year, but price growth was
4.1% and 6.9%, respectively. valuation achieved during the last three particularly notable in Dunfermline. This
The number of homes coming to market months across all areas was 104.1% looks to be caused by a combination
during this period in these areas rose by From September to November 2020, the compared to 102.9%. In Edinburgh, it was of increased demand and higher value
42.1% year-on-year. volume of property sales in Edinburgh, the 104.9% compared to 104.5% last year. Two properties on the market.”

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