Property Market Data: Key Points 

  • During May-July 2022 the average selling price of property across Edinburgh, the Lothians, Fife and the Borders rose by 4.8 % to £288,993. 
  • Sales volumes dropped by 15.8% during this period, while new property listings dipped 2%. 
  • The median selling time of property was 13 days. 
  • On average, properties attained 108.9% of their Home Report valuations at sale. 
  • 37.9% of properties went to a closing date. 




Selling prices continue to rise as suburbs continue to be popular 

The property market continued its upward trend during May, June, and July 2022, as buyers were keen to secure homes across Edinburgh, Lothians, Fife, and the Borders. Across all regions, the average selling price increased by 4.8% to £288,993 year-on-year. 

Following the same pattern seen in previous quarters, the highest price increases during May-July 2022 were seen in West Lothian where market activity has accelerated in recent months thanks to buyers seeking larger, more affordable homes within easy reach of Edinburgh city centre. In this area, property selling prices rose by 10.4% to £238,171. Dunfermline, which continues to be a hotspot for first-time buyers saw an average selling price increase of 7.7%, taking it up to £193,733 annually. Popular with commuters and young families, perhaps buyers have been seeking out homes in these areas to enjoy the benefits of suburban living balanced with excellent transport links to Edinburgh. 

In Edinburgh, average property selling prices rose 6.5% to £312,086. Following a period of high demand for properties in the past year, two-bedroom flats and three-bedroom houses continued to be particularly popular with Edinburgh buyers. While they are showing slight signs of slowing compared to earlier quarters as the market returns to more ‘normal’ levels after the pandemic. 

Two-bedroom flats in Edinburgh’s New Town and West End areas sold for £468,181, a 0.8% annual rise. This was followed by Morningside and Merchiston where two-bedroom flats sold for an average of £383,970 – an increase of 17.6%. In Leith, one-bedroom flats sold for 228,559, an increase of 43.5%. 

In April-June 2022 there was high demand for three-bedroom houses in Cramond, Barnton and Cammo but we are seeing signs this is starting to cool off as the average price is now at £377,884, a decline of 5.2% annually. 

Dunfermline was one of the top property hotspots for first-time buyers in 2021 but demand is starting to decline a little during May-July 2022. One-bed flats in the town were the most affordable property type across Edinburgh, the Lothians, Fife and the Borders during May-July 2022 with an average selling price of £87,858. Two-bedroom flats in the town were also one of the cheapest properties to buy at £129,296. Three-bedroom houses in Dunfermline saw a 22.5% decline in average selling price, taking the new figure to £213,649. 

Local market activity remains strong 

The property market in Edinburgh, Lothians, Fife and the Borders experienced a busy quarter as we start to see more ‘normal’ levels of activity compared to May-July 2021, when the market was starting to recover after the second national lockdown significantly disrupted the buying and selling process.  

During this quarter, sales volumes across Edinburgh, the Lothians, Fife and the Borders reduced by 15.8%, while new property listings dipped slightly at 2%. 

Two-bedroom flats in Morningside sold in the highest volumes during this period, with levels up 35.3% annually. Four-bedroom houses in Dunfermline saw a 4% rise in sales volumes while three-bedroom houses in the town saw sales volumes fall by 22.5%. 

Sellers in Dunfermline were the most active, with the highest volume of properties listed for sale in this area during this quarter, with insertion volumes rising 37.2% annually. Corstorphine also saw an increase here, with insertions rising by 14% year-on-year. However, Musselburgh and Trinity saw declines of 23.2% and 26.8% in insertion volumes respectively. 

Buyers continue to pay over Home Report value to secure their dream home 

Buyers also continued to pay significantly over Home Report value across the board, with properties attaining 108.9% of their Home Report valuations on average – 3.6 percentage points more than May-July 2021. This was perhaps compounded by the number of homes going to a closing date, which rose 3.5% to 37.9%. 

East Lothian attained the most over Home Report valuation, with properties achieving 110.2% of their valuations on average – 1.7 percentage points higher year-on-year. This was followed by West Fife and Kinross, which had the biggest jump in percentage points since last year at 4.8%, taking its new total of average percentage of Home Report valuation attained to 109.4%. 

Edinburgh continued to be a desirable place to live, with buyers paying 108.9% over Home Report value, a rise of 3.9% annually. 

Dunfermline attained the most over Home Report valuation, as buyers here paid on average 110.1%, a rise of 5.7%. 

Properties still selling quickly in thriving market  

Despite fewer sales and a reduction in new property listings, the Edinburgh, the Lothians, Fife and the Borders market continued to thrive with buyers and sellers facing strong competition in May-July 2022. The median time for properties to go under offer reduced by one day year-on-year to 13 days. 

Homes sold the fastest in West Fife and Kinross, West Lothian and Midlothian, in a median time of 12 days. Meanwhile, properties in East Lothian also performed strongly, with a median selling time of 13 days. 

Looking at Edinburgh specifically, the fastest-selling homes could be found in the East, North and West of the city with a median time of 13 days. When analysing specific housing types, two-bed flats in Leith Links and Leith were snapped up quickly, going under offer in nine and 11 days respectively. The biggest change for property selling times in Edinburgh was for two-bedroom flats in Newington, which sold 13 days faster than in May-July 2021, in 11 days. 

Paul Hilton, CEO of ESPC, commented: “It’s been another busy quarter for the property market, with sustained growth across many areas, including in the average selling prices of property, and the amount over Home Report valuation that buyers are willing to pay. 

“The latest figures show family homes, and flats in the desirable areas of Easter Road and Leith have been especially popular, and we hope to see continuing demand for homes in the city this year. 

“For buyers starting out on their property journey, Leith and the surrounding neighbourhoods, and Dunfermline both offer great opportunities in terms of pricing and the volumes of available properties. 

“If you are considering buying or selling in any of our of these areas, get in touch with your local ESPC solicitor estate agent today.” 


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