First time buyer areas around Edinburgh
Purchasing your first home is exciting but there are a lot of different factors to consider, including where you would like to buy. When choosing an area, you need to factor in your budget and whether it’s a good investment if you choose to sell it in future.
We’ve highlighted some of the hotspots for first time buyers in the capital, but also areas further out of the city that are also great for first time buyers. Plus if you are looking to buy your first home, don't forget to enter our prize draw to win £3,000 towards your deposit!
Flats in Leith
Leith Walk, Easter Road, Pilrig and Bonnington have proved to be particularly popular first time buyer areas, benefiting from easy access and a plethora of shops, bars and restaurants throughout Leith. There are also large volumes of one and two-bedroom flats available. Our January 2019 House Price Report indicated that the average selling price of a one bedroom flat in these areas was £154,890.
Flats in Dalry
The neighbouring areas of Dalry, Gorgie, Slateford and Chesser are also hotspots for first time buyers, with excellent transport links to the city centre and lots of local shops and restaurants. The average selling price of a one bedroom flat in these areas between November 2018 and January 2019 was £143,404.
Flats in Abbeyhill and Meadowbank
Lying to the east of the city centre, the areas of Abbeyhill and Meadowbank have always been traditionally popular areas for first time buyers. With the lovely green space of Holyrood Park and Arthur’s Seat located nearby, it’s not hard to see why. There’s a mix of properties available, including lots of one and two-bedroom flats. Our January 2019 House Price Report showed that the average selling price of a one-bedroom flat is £161,165.
Flats in Musselburgh
The seaside town, Musselburgh, in East Lothian is a great option for those looking to get on the property ladder as there are several smaller flats and houses available at lower prices compared to districts near the city centre. Additionally there are excellent bus, train and road links into Edinburgh. From November 2018 to January 2019 the average selling price of a one-bedroom flat was £118,950 and the average price of a two-bedroom flat was £149,830.
Flats in Dunfermline
The historic town of Dunfermline is ideally placed for commuting into the City. The last 12months have seen a host of new bars and restaurants open as it becomes more popular. From November 2018 to January 2019, the average selling price of a two-bedroom flat was £107,063 and of a one-bedroom flat was £78,218.
Flats in Penicuik
Penicuik is situated midway between Edinburgh and Peebles and offers great transport links. It also benefits from proximity to the Pentlands and the Borders, making it ideal for first time buyers who love the countryside and outdoors. Between November 2018 and January 2019, the average selling price of a two-bedroom flat was £137,500.
Win £3,000 for your first home!
If you are planning on buying your first home, ESPC are here to help with our latest prize draw! One lucky person will win £3,000 towards the deposit of their first home. Enter now at espc.com/win
The prize draw will end at 1pm on the 22nd February. Terms and conditions apply. Find out more at espc.com/win
Also, if you’re looking for advice about purchasing your first home, make sure to pop into our Property information centre, where our legal expert or member of our mortgage team will be happy to chat to you.
Alternatively visit www.espc.com/events to see when our next first time buyers event is taking place.