Average House Price Scotland - ESPC House Price Report - February 2025

Property Market Data - Key Points:

• The average selling price of property in Edinburgh, the Lothians, Fife and the Borders was £286,443 during December 2024 - February 2025, up 6% year-on-year.
• Properties achieved 101.3% of their Home Report valuation on average, up 0.1 percentage points on the same time last year.
• New property listings were down 4.1% while sales volumes increased 13.6%.
• The median time to under offer for property was 27 days, the same as seen in the period December 2023 - February 2024.
• 19.4% of homes went to a closing date, up fractionally from 19.3% last year.

Notable rise in average selling price of property

The average selling price of property in Edinburgh, the Lothians, Fife and the Borders saw a notable year-on-year increase during December 2024 - February 2025, rising 6% annually to £286,443. This significant annual increase highlights strong demand in the Scottish housing market, continuing a positive trend in what are typically slower months for buying and selling property.

The majority of areas covered in the House Price Report saw an increase in the average selling price of properties. West Fife & Kinross experienced one of the highest annual rises in average selling price, increasing from £214, 918 to £229,263, which is a rise of 6.7% year-on-year. In the capital, selling prices saw decent growth, rising by 6% to an average of £305,825.

It was a mixed bag of results for the Lothians, where West Lothian rose by 4% to £263,751. Midlothian saw its average selling price rise to £264,132, an increase of 2.5% year-on-year, while East Lothian’s average dropped by 1.9% to £263,153. In the Scottish Borders, property prices climbed by 2.5% to an average selling price of £232,809.

Highlighting it’s strong and steady performance, Edinburgh North West continued to see a notable increase in average selling prices. Outperforming the other areas of the capital, Edinburgh North West (including South Queensferry, Kirkliston and Ratho) experienced an annual rise of 17.7%, resulting in an average selling price of £307,295. On closer inspection, this was driven by a higher volume of higher value homes selling in the Kirkliston area.

Both Edinburgh City Centre (including Old Town, New Town, Stockbridge and Tollcross) and Edinburgh North (including Murrayfield, Corstorphine, Barnton and Blackhall) recorded double figure increases in the average selling price, with rises of 14.7% and 11.1% respectively. In the city centre, the charming neighbouring of Comely Bank saw a considerable increase of 31.5%, with an average selling price of £371,493. Blackhall, in the north of the capital had an average selling price of £559,734, which is an increase of 42.6% year-on-year, predominantly made up of an increase in 3 and 4 bed house sales.

Consistent market stability reflected in Home Report valuations

Between December and February, buyers paid, on average, 101.3% of the valuation figure to secure a property, which is 0.1 percentage points higher than the same time last year. Similarly, the percentage of properties sold for at least their Home Report Valuation increased 0.1 percentage points when comparing year-on-year. This really reflects stability within the market, offering surety to both buyers and sellers alike.

Sellers in West Fife & Kinross saw their properties being snapped up at an average of 102.3% of the Home Report Valuation, which is an increase of 1.1 percentage points compared to the previous year. Edinburgh increased by 0.2 percentage points to an average of 101.5% while East Lothian rose by 0.1 percentage points to an average of 102%.

The biggest bargains could be found in the Scottish Borders, where properties attained 98.9% of their valuation figure on average, as well as in East Fife (99.5%) and West Lothian (99.6%).

Taking a closer look at the capital, Edinburgh East experienced the best performance for sellers, where properties achieved 103% of their valuation. The popular areas of Easter Road, Meadowbank and Leith Links all performed notably strongly. Easter Road attained a significant 108.8% of the Home Report valuation, while Meadowbank attained 104.6% and Leith Links achieved a healthy 104.5%.

Property market maintains pace with last year

The pacing of the market was the same as the previous year, with a median time to sell of 27 days. This is encouraging news for both buyers and sellers, signalling market stability and providing consistency for both parties. Buyers can explore properties thoughtfully, while sellers can feel confident that their homes may sell within weeks.

West Fife & Kinross was the fastest moving region, where properties went under offer in 15 days (which is five days faster than in December 2023 - February 2024). Although taking 28 days on average to go under offer, the median time to sell for properties in West Lothian saw the biggest improvement, quickening from 37 days down to 28 days.

Two-bedroom houses in Dunfermline were once again the quickest-selling property type overall, with eager buyers snapping up these properties in just six days. Looking at Edinburgh, two-bedroom flats in Granton proved popular, going under offer in 14 days, which is 12 days faster than last year. With little surprise, two-bedroom flats in Leith continued to fly off the market, with a median time to sell of 15 days.

Steady start to the year as sales up 13.6%

Property sales volumes across Edinburgh, the Lothians, Fife and the Borders rose 13.6% year-on-year during December 2024 - February 2025, despite the number of properties listed experiencing a drop of 4.1% annually. This again hints at an increase of active buyers in the market and should give home sellers a positive insight to get their home on the market.

Leith had the highest number of property sales and enjoyed a 24.4% increase compared to the previous year. Despite recording a downturn of 18.2%, Dunfermline was still the second highest area in terms of sales volumes. In East Lothian, Musselburgh experienced a significant growth, highlighting the coastal town's popularity as a convenient commuter town.

In the south of the capital, Gilmerton experienced a significant uplift in sales volumes, most likely due to numerous purchases of three-bedroom houses in the area. Neighbouring Danderhall also boasted strong numbers in terms of sales, highlighting the area's popularity for home buyers seeking excellent links to Edinburgh city centre.

Taking a look at property types, one- and two-bedroom flats in Leith were the biggest sellers, with sales volumes for one-bedroom flats in the area increasing 43.3% year-on-year. The appeal of Gorgie for young professionals continues, with the area seeing sales of one-bedroom flats rising 35.5% annually.

Three-bedroom houses in Dunfermline were the third most-popular property type, despite sales volumes dropping 24.2% year-on-year.

Less new homes coming to market but still plenty of choice

Despite a 4.1% decline in the number of homes entering the market between December 2024 and February 2025 compared to the previous year, buyers still had a reasonable selection. However, this slight drop likely increased competition, leading to homes going under offer two days faster than in the prior period.

A pattern observed for several months continued, with Dunfermline, Leith, and Corstorphine seeing the highest levels of property listings. Despite topping the charts, Dunfermline saw an 18.6% year-on-year decrease, while Leith experienced a 5.9% drop. In contrast, Corstorphine, a consistently sought-after area, recorded a 27% increase in listings compared to the same period the previous year.

Once again, two-bedroom flats in Leith were the most listed, followed by three-bedroom houses in Corstorphine, which increased a significant 91.7% year-on-year. Three-bedroom houses in both Haddington and South Queensferry also fared well, seeing substantial increases in the number of properties coming to market.

It was good news for sellers when it came to marketing their properties too; 87.2% of homes were listed using the ‘offers over’ pricing structure, up from 74.6% the previous year.

What does it mean for the local property market?

CEO Paul Hilton commented: "The Scottish property market has shown strong resilience, with notable growth in average selling prices across most regions. Demand remains high, particularly in desirable coastal and urban areas, leading to steady price increases despite the traditionally quieter winter months. Edinburgh continues to perform well, with certain areas seeing significant price surges, while parts of Fife and the Lothians also experienced healthy growth.”

“Market stability is reflected in buyers continuing to pay above Home Report valuations, especially in sought-after locations. While selling times have slowed slightly compared to previous months, key areas are still moving quickly, with smaller properties remaining in high demand.”

“Sales volumes have risen substantially, even as the number of new listings has dipped. This suggests increased competition among buyers, keeping the market buoyant. Some areas are seeing a strong influx of new properties, helping to maintain buyer choice, but overall, stock remains tight.”

“Looking ahead, the market remains competitive, with strong demand and steady price growth. For sellers, conditions remain favourable, while buyers must act decisively, particularly in high-demand areas. ESPC continues to see a dynamic and active market, with positive momentum as we move further into 2025.”

“If you’re thinking of buying or selling a home in Edinburgh, the Lothians, Fife or the Borders, contact your local ESPC solicitor estate agent for the most up-to-date information and local market insights.”