Page 14 - ESPC July 2022

THE PROPERTY MARKET

The House Price Report: June 2022 percentage points since last year at 5%, taking
its new total of average percentage of Home
We take a closer look at how the housing market performed across Edinburgh, the Lothians, Report valuation attained to 109%. 150
Fife and the Borders over the second quarter of 2022. solicitor estate agents
Edinburgh continued to be a desirable place ready to help you buy and sell homes
to live, with buyers paying 108% over Home
he average property selling price in bedroom houses sold for £410,830, a 26.9% Report value, a rise of 3.8% year-on-year.
Edinburgh, the Lothians, Fife and annual rise. This was followed by Liberton Over
Tthe Borders rose 3.9% year-on-year and Gilmerton where three-bed houses sold The median time for properties to go under offer 1300
during April-June 2022, to £280,782. for an average of £335,104 – an increase of
18%. In South Queensferry and Dalmeny, reduced by three days year-on-year to 13 days. homes for sale
Significant increases in average selling prices this type of property achieved £309,027 on Homes sold the fastest in West Fife and Kinross,
occurred in West Lothian and Midlothian. average, 6% higher year-on-year. in a median time of 11 days, one day faster year- 148,663
In West Lothian, the average selling price on-year. Meanwhile, properties in Midlothian
jumped 11.2%, taking the average to During April-June 2022, buyers continued to and West Lothian also performed strongly, with responses to My ESPC emails sent
during June
£256,458. Midlothian, which continues to be pay significantly over Home Report value a median selling time of just 12 days.
popular with families who want to live on the across the board, with properties attaining
Edinburgh commuter belt, saw an average 108.3% of their valuations on average – 3.9 Looking at Edinburgh specifically, the fastest-
selling price increase of 6.6%, taking it up to percentage points more than April-June selling homes could be found in Corstorphine
£242,330 annually. 2021. This was perhaps compounded by the and Trinity, both going under offer in a median Sellers in Dunfermline were the most active,
number of homes going to a closing date time of 12 days. When analysing specific housing with the highest volume of properties listed for
By contrast, Dunfermline, which was one during this quarter, which rose 6.5% to 38.1%. types, three-bedroom houses in Corstorphine sale in this area during this period, with insertion
of the top property hotspots for first time and two-bed flats in Easter Road were snapped volumes rising 9.6% annually. Corstorphine also
buyers in 2021, cooled off a little during East Lothian attained the most over Home up the fastest, going under offer in 12 days – a saw an increase here, with insertions 13.9%
April-June 2022 as the average selling price Report valuation, with properties achieving reduction of two and five days respectively. higher year-on-year. However, Leith saw a 9.4%
for its property reduced by 6.1% to £188,843. 109.9% of their valuations on average – 3.3 decline in listings.
percentage points higher than April-June The biggest change for property selling times
Homes in the Capital were still in high demand: 2021. This was followed by West Fife and in Edinburgh was for three-bedroom houses in Paul Hilton, CEO of ESPC, said: “Following
In Cramond, Barnton and Cammo, three- Kinross, which had the biggest jump in Liberton, which sold 21 days faster than they did a strong start to the year in February-April,
in April-June 2021, in 11 days. the period of April-June shows the market is
returning to pre-pandemic activity levels.
Key points £280,782 Edinburgh, the Lothians, Fife and the Borders Commuter-friendly areas, such as parts of West
During this quarter, sales volumes across
Lothian, Midlothian and West Fife, continue
reduced by 12.6%, while new property listings
average selling price
to be incredibly popular with buyers, as well
dipped by 6.7%.
The average property selling price rose 3.9% year-on-year to £280,782.
Corstorphine.
Three-bedroom houses in Corstorphine sold as particular suburbs of Edinburgh such as
in the highest volumes during this period, with
108.3% 13 days levels up 33.3% annually and an average selling There’s continued demand for three-bedroom
houses as families search for properties outwith
price of £428,697. One and two-bedroom flats in
average percentage of Home median time to sell Leith, which have been popular with buyers for Edinburgh that still have good access to the city
Report valuation achieved much of 2021 and the beginning of 2022, saw centre.
significant drops in sales volume of 24.4% and
On average, buyers paid 108.3% The median selling time for
of home report valuation, up 3.9 properties was 13 days, three days 17.2% respectively, suggesting that the market “If you are thinking of buying or selling a home
percentage points. quicker than 2021. in this area is levelling after two intense years in Edinburgh, the Lothians, Fife or the Borders,
of activity. get in touch with your local ESPC agent today.
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