House Price Report August 2019
Property market data – key points
- From June to August 2019, the average selling price in Edinburgh, the Lothians, Fife and the Borders was £259,833, which was a 5% increase compared to the same period last year
- During this time in these areas, the sales volume rose by 0.7% compared to last year
- Over the past three months, the number of homes coming to market decreased by 6.4% annually
- During this period, the average percentage of Home Report valuation achieved was 103.5% compared to 105% last year
- Between June and August 2019, the median time to sell of properties in Edinburgh, the Lothians, Fife and the Borders was 21 days, which is three days slower than last year
Quicklinks
Average property selling prices in Edinburgh, the Lothians, Fife and the Borders
Sales volume and number of properties coming to market
Property selling times in Edinburgh, the Lothians, Fife and the Borders
Percentage of Home Report valuation achieved
Top selling properties by volume
Fewer properties come to market as selling prices rise
House Price Report August 2019 infographic
Find out house prices in different areas in the house price table.
Average property selling prices in Edinburgh, the Lothians, Fife and the Borders
Over the past three months, the average selling price of properties in Edinburgh, the Lothians, Fife and the Borders was £259,833, which was a 5% increase compared to the previous year. In Edinburgh, the average selling price was £283,398, a 6.4% increase compared to last year.
In the capital, the property type which saw the greatest year-on-year increase in average selling price was three bedroom houses in Blackhall, Davidsons Mains, Silverknowes, Barnton, Cramond and Cammo, rising by 12.6% to £436,398. Two bedroom flats in Portobello and Joppa saw a 12% year-on-year increase in average selling price.
There was also a significant increase in the average selling price of Midlothian properties, rising by 9.2% to £218,506. Meanwhile, prices dipped by 15.7% in West Lothian, dropping to £189,310. This is due to a greater proportion of higher value homes sold in the area last year. In the Scottish Borders, the average selling price fell by 11.7% to £210,169. This is also due to a greater proportion of higher value properties being sold last year.
Sales volume and number of properties coming to market
Across Edinburgh, the Lothians, Fife and the Borders, the sales volume over these three months was 0.7% higher than last year, and 0.4% higher in Edinburgh specifically. This is a much less marked increase than from May to July 2019, due to a slowdown in sales in August specifically. This is likely due to a decreasing number of properties coming to market in recent months. Over the past three months, the number of properties coming to market across all areas decreased by 6.4% and by 5.4% in Edinburgh.
Property selling times in Edinburgh, the Lothians, Fife and the Borders
The median selling time in Edinburgh, the Lothians, Fife and the Borders was 21 days, 3 days slower than last year. In Edinburgh, the median selling time was 19 days, also three days slower than last year. One bedroom flats in Leith Walk, Easter Road, Pilrig and Bonnington, and two bedroom flats in Portobello and Joppa, boasted the shortest median selling time at 13 days.
Percentage of Home Report valuation achieved
Across Edinburgh, the Lothians, Fife and the Borders over the past three months, the average percentage of Home Report valuation achieved was 103.5% compared to 105% last year. In Edinburgh, it was 105% compared to 106.9% last year. One bedroom flats in Dalry, Gorgie, Slateford and Chesser achieved the highest average percentage of Home Report valuation at 108.5%.
Top selling properties by volume
The property type with the greatest sales volume over the past three months was three bedroom houses in Dunfermline, followed closely by one bedroom flats in Leith and two bedroom flats in Leith.
Fewer properties come to market as selling prices rise
Jamie Fraser-Davidson, Business Analyst at ESPC, said: “The summer months have shown further increases in average selling prices in Edinburgh, as well as many of the surrounding areas. This suggests demand for property is relatively strong.
“There still appears to be strong competition for small flats in popular first time buyer areas close to the city, with these property types achieving short selling times and tending to well-exceed Home Report valuation on average.
“Over the summer months, three bedroom houses in Dunfermline has taken over as the property type with the greatest sales volume. This conveys strong demand for family homes in this historic Fife town.”
Michael Maloco from Dunfermline-based agent Maloco + Associates said: “It’s no surprise that three bedroom homes continue to be the most popular house type in the Dunfermline and West Fife area. When one considers the demographic of the area in terms of house buyers, average family sizes and need for space, plus average salaries in the area, whether they’re terraced, semi or detached, three bedroom houses will always be in demand.”
House Price Report August 2019 infographic
Download our House Price Report August 2019 infographic.
Find out more
Find out house prices in different areas in the house price table.
Want to know about previous months and years? Read our historical house price data.
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