Page 18 - Property market report_Sept24-Feb25

Sales volumes The average
Scottish Borders
Average selling prices saw steady
growth
The average selling price of homes in the Scottish Borders
was £223,045 during September 2024 - February 2025,
resulting in an increase of 6% compared to last year. This
makes the Scottish Borders the second-most affordable
region covered by ESPC, after Dumfries & Galloway.
West Linton was the priciest place to buy a property
in the Borders, with an average sale price of £364,584.
At the other end of the scale, Jedburgh was the most
affordable, with homes averaging £152,199.
The most affordable property type on the property
market in the Scottish Borders was two-bedroom flats in
Galashiels, which had an average price tag of £100,014.
Buyers in the Borders paid less of a
premium to secure properties
In sharp contrast to recent years, homebuyers in the
Scottish Borders paid less over the Home Report
valuation for properties between September and
February. On average, homes sold for 99.2% of their
Home Report valuation - 1.1 percentage points lower
than the same period last year and a significant drop
from the 104.3% recorded two years ago.
Most areas in the region saw a decline in the percentage
of Home Report valuation paid by buyers, with Selkirk
experiencing the most notable decrease of 4.4
percentage points. In this town, buyers paid an average
of 97.6% of the valuation.
There were more positive numbers in Galashiels, as the
town recorded a 0.9 percentage point increase, resulting
in homes here achieving 100.9% of their Home Report
valuation. Other key towns in the region that enjoyed
Credit: Colin N. Perkel/Shutterstock.com
year-on-year increases were Eyemouth and West Linton,
18 | PROPERTY MARKET REPORT
6.7%, while new Scottish Borders of property in the
increased by
Home in the
selling price
property listings were sold at a steady Scottish Borders was
dipped 4.8% pace, with a median selling £223,045,
time of 33 days, a steady yearly rise
one day slow than the of 6%
previous year
Buyers paid
99.2% of the
Home Report valuation 8.9% of
on average, down 1.1 properties set a
percentage closing date
points
with the average percentage of Home Report valuation Sales volumes increased, but less
achieved improving to 103.6% and 100.8% respectively.
properties came to market
Overall, 58.2% of properties in the Scottish Borders sold The number of new properties entering the market
for at least their Home Report valuation, compared to remained largely unchanged compared to the
65% during the same period in the previous year. previous year, with a slight decline of 4.8%. In
contrast, sales volumes increased by 6.7% annually,
Properties in the region continued to reflecting strong buyer interest in finding their ideal
sell at a steady pace home in this picturesque rural region.
Homes in the Borders had a median selling time of 33 Kelso saw the highest number of new property listings,
days between September 2024 and February 2025, followed by Galashiels, Peebles, Hawick, and Selkirk.
which is one day slower than the same period last However, listing volumes varied significantly across
year. However, this remains a strong selling pace, these areas year-on-year. Kelso, Galashiels, and
keeping both buyers and sellers satisfied with the Peebles experienced declines of 14.3%, 6.5%, and 18%,
market’s momentum. respectively, whereas Hawick saw a 12% rise in new
listings.
Some areas saw properties sell much faster; in
high-demand Galashiels, homes went under These same five towns also recorded the highest
offer in a median of just 16 days. Meanwhile, two- sales volumes, though in a different order. Despite
bedroom houses in Kelso were the fastest-selling a year-on-year decline, Galashiels and Kelso led
property type overall, going under offer in just the region in sales. Selkirk saw the most significant
11 days. increase, with sales surging by 66.7%, while Hawick
and Peebles experienced rises of 15.2% and 12.5%,
A total of 8.9% of Borders homes went to a closing respectively.
date, down from 12.1% last year and 15.5% the year
before, reflecting a shift in market dynamics during Three-bedroom houses in Kelso were the most
the past couple of years. Galashiels remained the sought-after properties, selling in the highest
most competitive area, with 20% of properties going numbers and highlighting strong demand from
to a closing date. family buyers in the area.
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