Market conditions in Edinburgh, the Lothians, Fife, and the Borders are becoming increasingly varied, according to Scottish property marketing company ESPC. Its latest House Price Report, covering May to July, found that average selling prices across these regions rose 2.7% year-on-year to £296,298.
However, price movements differed significantly between local markets. East Fife recorded a 5.4% annual increase, while East Lothian saw an 8.2% rise and West Lothian a 9.5% increase. ESPC suggested these increases in the Lothians indicate greater interest in higher-priced properties and premium locations.
Overall transaction activity weakened, with sales volumes down 7% year-on-year and new property insertions falling by 6.1%. Despite this, 85% of properties coming to market were listed using an “offers over” strategy, an increase of 8.7 percentage points compared to the same period last year.
In contrast, Dunfermline's average selling price fell by 6.8% annually. ESPC attributed this largely to a reduction in sales of four-bedroom homes and a sharp increase in transactions involving two- and three-bedroom properties. Despite the lower average price, buyer demand in Dunfermline remained strong, with homes achieving an average of 103.5% of their Home Report valuation and going under offer in a median of 13 days.