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THE PROPERTY MARKET

The House Price Report: December 2024
Edinburgh buyers paid the highest premium
We look at what’s been happening in the local property market over in the trendy East, at 104%. One-bedroom 140
the last three months. flats around Leith Walk, Easter Road, Pilrig
and Bonnington commanded an especially solicitor estate agents
high premium of 105.5%, hinting at very high ready to help you buy and sell homes
demand, while family-friendly Willowbrae saw
he average selling price of property could the VAT hike for private schools be the highest premium of any ESPC location Over
across Edinburgh, the Lothians, Fife the reason for this? at 109%. Given its proximity to two popular
Tand the Borders was £286,017 during secondary schools, this may again be the 2,300
October-December 2024, up 6% on the Overall, Edinburgh’s Grange was the most impact of families choosing to relocate their homes for sale
same time the previous year. expensive neighbourhood, with homes children’s schooling to state options.
selling for £530,492. Jedburgh in the Borders 223,360
Nearly all areas covered by ESPC saw healthy offered the best affordability, at £112,773. The property market saw a substantial My ESPC emails sent during December
increases to average selling prices. The amount of activity during October-December.
Borders’ average rose 8% to £219,067, while Property sales report a decline in the average Property listings were up 4.5% year-on-year,
West Fife & Kinross reported a 17.5% increase amount of the Home Report valuation indicating high seller confidence. Dunfermline
to £229,004. Dunfermline’s 29% increase achieved at sale, with homes attaining 102%, offered the highest volumes of property
took averages there to £230,233. However, much the same as last year. listings, followed by Leith. on a positive note for the housing market,
you could find the most affordable property with incredibly healthy levels of activity across
on the market in Dunfermline – one-bed flats The Borders offered the best opportunity to Sales volumes rose by a significant 25%. the board. We’ve seen everything from rising
in the city sold for £96,475 on average. buy a property for less than its Home Report Dunfermline boasted the highest volume of property prices to decreasing sales times, and
valuation, with homes achieving 98.9% on sales, followed by Leith and Corstorphine. generous increases in the volumes of both
In Edinburgh, the North West reported a average. East Fife experienced the largest Interestingly, Corstorphine’s sales volumes property listings and property sales – all key
22% increase to £316,219, while the city decline, with buyers paying 99.3% of the were significantly up annually, again hinting indicators of a buoyant market.
centre rose 15% to £343,793. With both areas Home Report valuation – a 3.8 percentage at increasing demand from families looking to
offering access to popular state schooling, point decrease. “Once again, Dunfermline and the East of
be close to good schooling options.
Edinburgh both appear to offer the strongest
appeal for buyers, with extremely active
Two-bedroom flats in Leith were yet again the markets in both of these locations. It’s also
top sellers, followed by one-bed flats in Leith, especially interesting to note the increasing
Key points £286,017 where sales volumes were 56.5% higher than neighbourhoods of Edinburgh that offer
and in third place, one-bed flats in Gorgie,
property prices and demand for homes in
at the same time last year.
average selling price
access to highly rated state schooling; we did
predict that this may be the case in 2025 but
Prices rose 6% annually during October-December.
The median selling time of property was 21
days, which is one day faster year-on-year. it appears we may be seeing this beginning
already, with families keen to secure homes
The quickest-selling area was West Fife & close to good state schooling ahead of private
102% 21 days Kinross, where homes were snapped up in school VAT increases coming into force.
only 14 days, while homes in East Fife took 42
average percentage of Home median time to sell days to go under offer.
Report valuation achieved “If you’re thinking of buying or selling a home
in Edinburgh, the Lothians, Fife or the Borders,
Just 0.4 percentage points lower One day quicker than the same What does it all mean? contact your local ESPC solicitor estate agent
than last year, in good news for time last year. Paul Hilton, CEO of ESPC, commented: “The for the most up-to-date information and local
buyers and sellers. final three months of 2024 saw the year end market insights.”

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