Page 11 - ESPC Magazine - October2021

THE PROPERTY MARKET

HOUSE PRICE REPORT: SEPTEMBER 2021

Prices rise most for homes outside of the city, as buyers seek a more relaxed pace of life 8.4 percentage points higher year-on-year. attributed to an influx of homes listed
This was closely followed by East Fife, where immediately following the lockdown lifting in
homes achieved 110.1%, up 6.4 percentage June/July 2020. For balance, 2021’s figures are
July to September 2021 saw continuing points. 2.18% above 2019’s levels, showing that the
high levels of activity on the property market is beginning to return to normality.
KEY POINTS
market across Edinburgh, the Lothians, A higher volume of lower-priced properties
Fife and the Borders, particularly from came onto the market during July-September Paul Hilton, CEO of ESPC, said: “This has been
buyers searching for future-proof homes. 2021. This ties into the evidence of larger yet another busy quarter for the property
numbers of homeowners selling smaller market across Edinburgh, the Lothians, Fife
£275,714 The average property selling price rose ‘starter’ properties to secure homes with and the Borders. We’re continuing to see that
4% year-on-year, up to £275,714 from more versatile accommodation. homes in Edinburgh’s suburbs and more rural
average £265,147 in 2020. regions outside of the Capital, such as Fife
selling price The median selling time was just 14 days, and East Lothian, are the most in-demand,
Properties in East Fife experienced the seven days quicker than July-September 2020. as buyers look for properties that can offer
largest jump in average selling prices, The Borders proved especially popular with flexibility in the longer term.
During July - September 2021, the average rising 12.4% to £276,015. This was closely buyers looking for a lifestyle change; homes
selling price of homes in Edinburgh, the followed by neighbouring West Fife and sold in 13 days, 59 days faster than last year. “The volume of available properties is
Lothians, Fife and the Borders rose 4% Kinross, where homes rose by 9.1% to returning to pre-pandemic levels; however,
year-on-year, to £275,714. £201,030. Fife has proven particularly Homes went under offer fastest in West Fife with more buyers searching and less
popular with buyers searching for extra and Kinross, with a median time of just 10 days. availability, we can expect this to impact
space and good affordability, with figures in the coming months.
convenient links to Edinburgh. Property sales increased 45.4% year-on-year
106.5% Homes in Edinburgh saw their average across Edinburgh, the Lothians, Fife and the “There are higher levels of more affordable
Borders. Leith boasted the highest volume of
homes on the market, meaning that there are
average percentage selling price rise by 2.5% to £290,882; property sales; two-bedroom flats here were still plenty of options for first-time buyers.
of Home Report properties in the South Western suburbs the most-purchased property, with a 38.9%
valuation experienced a 26.2% increase in average increase on sales in comparison to 2020. “If you are considering buying or selling in
achieved selling price, to £402,403, while homes in Edinburgh, the Lothians, Fife and the Borders,
the City Centre saw a 4.2% reduction, to Buyer demand has been intensified by get in touch with your local ESPC solicitor
Properties achieved an average of 106.5% £320,575. reduced numbers of available properties, estate agent today.”
of their Home Report valuation, up 3% down 31.1% year-on-year. This can be
points on 2020. One-bedroom flats in Dunfermline were
the most affordable property type, at
£75,070.

Buyers bid an average 106.5% of Home
14 days Report valuation during July-September 160 Over 570,000
2021, three percentage points higher solicitor estate 1,700
median time than the same time in 2020. 37.6% of agents property alert
to sell emails
homes went to a closing date, up from
27.8% in 2020.

Homes sold more quickly during this time, Homes in East Lothian continued to ready to help you buy properties for sale sent during September
with the median selling time of 14 days, draw the biggest bids, with an average of and sell homes with My ESPC
seven days quicker than 2020. 110.6% of Home Report valuation paid,

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