Page 16 - ESPC Magazine Jan 2021

THE PROPERTY MARKET

Portobello
HOUSE PRICE REPORT DECEMBER 2020

The last quarter of 2020 saw a significant year-on-year increase in the number of homes coming
to market.

In the fourth quarter of 2020, the average
KEY POINTS property selling price in Edinburgh,
the Lothians, Fife and the Borders was
£269,542, up 8.1% compared to last year.
In Edinburgh, it was £286,052, up 6.3%
year-on-year.
£269,542
Two bedroom flats in Portobello and
average
selling price Joppa saw a 15.5% increase in average
selling price, rising to £273,591. However,
two bedroom flats in the New Town and
West End saw a 15.3% decrease, dropping
In the final three months of 2020, the
average selling price of properties in to £397,183. This decrease is partially due
Edinburgh, the Lothians, Fife and the to lower value properties in the New Town
Borders increased by 8.1% year-on-year being listed on ESPC in recent months
to £269,542. compared to last year.

Areas in Fife also saw some significant
year-on-year increases in average selling
39.7% prices, with properties in East Fife selling 39.6% more homes in Edinburgh, the times and far more homes coming to market
for an average of £277,619, up 18.6% Lothians, Fife and the Borders were listed on compared to the end of 2019. Homes are
increase in compared to last year. Average prices in ESPC in the last quarter of 2020 compared to continuing to sell well but there’s also a good
volume of
property sales West Fife and Kinross were also up 15.9% the previous year. In the capital, 54.8% more choice of properties on the market.
year-on-year. properties came to market over the past
three months compared to last year. “The Scottish Government has confirmed
Over the past three months, the average that house moves and associated activities,
From October to December 2020, the property selling price for the Scottish Across Edinburgh, the Lothians, Fife and the including property viewings, can go ahead
volume of property sales in these areas Borders was £263,323, up 14.8% compared Borders, the average percentage of Home under the new lockdown restrictions provided
was up 39.7% compared to last year. to last year. Report valuation achieved between October they can be carried out safely but, taking into
and December 2020 was 103.8%. account the new strain of COVID-19, it may
In Midlothian, property prices were up be advisable to postpone viewings or house
39.6% 10.6% compared to last year while West Properties across all areas also sold faster moves if possible.
compared to last year, with the median time
Lothian properties saw an 11.5% increase in
increase in average selling price. In East Lothian, the for a property to be placed under offer at 18 “Public health and safety is of the utmost
homes coming average property selling price rose by 6.3%. days compared to 22 days last year. In the importance at this time. I would advise those
to market Borders, the median time for a property to be interested in buying or selling a property in
In the final quarter of 2020, the volume of placed under offer was 26 days compared to 2021 to seek expert advice from a solicitor to
property sales rose by 39.7% compared to 100 days last year, which is a significant drop. find out about market conditions and get up-
The number of homes coming to market last year. This is indicative of how busy the to-date information about the latest guidance
increased by 39.6% year-on-year during property market was in the summer and Paul Hilton, CEO of ESPC, said: “The end of on COVID-19 and house moves.”
this period. autumn. 2020 saw higher selling prices, faster selling

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