LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

House prices in these regions buck downward trend – London Wallet

Mark Helprin by Mark Helprin
January 11, 2023
in Real Estate
House prices in these regions buck downward trend – London Wallet
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Buy-to-let lending rises sharply in first quarter of 2025 – London Wallet

Chancellor warned of housing market stagnation without urgent reform – London Wallet

Letting agents should see Renters’ Rights Bill as ‘opportunity’ – London Wallet

The average selling price of property across Edinburgh, the Lothians, Fife, and the Borders increased quite significantly during the final quarter of last year, despite the wider slowdown in the UK housing market, new figures show.

According to ESPC, the average price of a home across these regions increased by 6.8% year-on-year to £291,023 as the supply-demand imbalance continued to place upward pressure on property prices.

The data also reveals that sales volumes dropped 13.7% annually during this period, while new property listings decreased by 4.3%. While this is recorded as a year-on-year decline, it does in fact take us to the same new property listing volumes recorded in the same period in 2019, indicating that this is more likely a return to the norms witnessed before the post-pandemic market increases.

There was a significant rise in new property listings in Bonnyrigg in Midlothian and South Queensferry (an increase of 59.3% and 81% year-on-year respectively).

The median selling time of property was 18 days, highlighting that buyers were acting quickly to secure their next home.

On average, 87.7% of properties sold for their Home Report valuation or higher, with the average property achieving 105.9% of Home Report valuation at sale. Some 28.2% of properties went to a closing date.

Dunfermline and East Fife recorded some of the highest price increases over the last three months. The average selling price for homes in Dunfermline was £228,514, an increase of 14.8% annually, while property in East Fife had an average selling price of £301,326, up 14.1% year-on-year.

Edinburgh saw average property selling prices rise 5.6% annually to £306,013. Following high demand for properties in the past year, two-bedroom flats were popular with Edinburgh buyers.

Many areas popular with families saw rises in average selling prices, with three-bed houses in Blackhall, Davidsons Mains and Silverknowes increasing by 12% to £492,781 and three-bedroom houses in South Queensferry and Dalmeny increasing by 21.4% to £324,128.

Areas in the capital that are in demand with first-time buyers also saw rises in average selling prices. The average selling price of one-bedroom flats in Abbeyhill and Meadowbank increased by 10.7% to £185,763.

The average selling price of two-bed flats in Portobello and Joppa continued to be popular, increasing by 14.1% to £302,970.

Paul Hilton, CEO of ESPC, commented: “The period of October-December 2022 has brought significant changes politically and in the financial markets.

“In 2023, we will see the full effects of these changes but the property market in Edinburgh, the Lothians, Fife and the Borders remains robust and competitive with buyers currently continuing to pay significantly over Home Report value to secure their dream home.

“We are seeing noticeable demand for areas in Edinburgh that are popular with a range of buyers. Abbeyhill and Meadowbank have seen considerable demand from first-time buyers while South Queensferry and Dalmeny are popular with those looking for family homes.

“There has also been interest in suburbs like Corstorphine which are popular with families, and rural locations like the Scottish Borders – continuing the 2022 trend of buyers moving to areas outside Edinburgh with good transport links to the captial.”

 





Source link

Share30Tweet19
Previous Post

Estate agency reaches 1,000 testimonials’ milestone – London Wallet

Next Post

Estate agents told not to ‘value properties with too much enthusiasm’ as market slows – London Wallet

Mark Helprin

Mark Helprin

Recommended For You

Buy-to-let lending rises sharply in first quarter of 2025 – London Wallet
Real Estate

Buy-to-let lending rises sharply in first quarter of 2025 – London Wallet

July 24, 2025
Chancellor warned of housing market stagnation without urgent reform – London Wallet
Real Estate

Chancellor warned of housing market stagnation without urgent reform – London Wallet

July 24, 2025
Letting agents should see Renters’ Rights Bill as ‘opportunity’ – London Wallet
Real Estate

Letting agents should see Renters’ Rights Bill as ‘opportunity’ – London Wallet

July 24, 2025
Platform partnership offers same-day rent advances to UK landlords – London Wallet
Real Estate

Platform partnership offers same-day rent advances to UK landlords – London Wallet

July 24, 2025
Next Post
Estate agents told not to ‘value properties with too much enthusiasm’ as market slows – London Wallet

Estate agents told not to ‘value properties with too much enthusiasm’ as market slows - London Wallet

Related News

Apple sued for blocking crypto tech for P2P payments

Apple sued for blocking crypto tech for P2P payments

November 21, 2023
Goldman Sachs is set to report second-quarter earnings — here’s what Wall Street expects

Goldman Sachs is set to report second-quarter earnings — here’s what Wall Street expects

July 15, 2024
Trump token whale sells for .7M profit as memecoin starts decline

Trump token whale sells for $3.7M profit as memecoin starts decline

June 18, 2024

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?