Property market data - key points

  • Between March and May 2021 the average selling price in Edinburgh, the Lothians, Fife and the Borders rose by 13.2% year-on-year to £261,369.

  • During this period in these areas, the median selling time was 21 days, one day faster than last year.

  • From March to May 2021, homes in Edinburgh, the Lothians, Fife and the Borders achieved an average of 103.2% of Home Report valuation, compared to 103.4% last year.

  • Given the tight lockdown restrictions last year the volume of new property listings was substantially higher, and a 1.09% increase on the same period in 2019.

  • A similar trend is seen with property sales volumes, however there was a 17.31% increase on the same period in 2019.

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house price report may 21 forth road bridge and house

Local property market continues to record high activity

The volume of properties sold in Edinburgh, the Lothians, Fife and the Borders has continued to rise over the last three months. Given the lockdown restrictions of last year an inflated annual sales volume increase is to be expected and reached a high of 239.5% during this period. However, comparison with March to May 2019 shows a 17.31% increase which indicates that the local property market continues to be very busy as people move home.

In Edinburgh, sales volume was up 278.50% compared to March to May 2020 and up 16.55% compared to the same period in 2019.

In Midlothian, the sales volume was up 209.83% year-on-year and up by 27.03% compared to March to May 2019. East Lothian recorded an increase in sales volume of 147.69% annually and 21.97% on 2019, whilst in West Fife and Kinross, the number of properties selling increased by 161.63% annually, and was the same as March to May 2019.

However, in West Lothian we recorded a 138.46% annual increase compared to a 8.82% decrease on the same period in 2019. This trend was similar in East Fife where we recorded a 123.53% increase annually and a 1.72% decrease compared to 2019.

The number of new homes coming to market in Edinburgh increases

Between March and May 2021 we have recorded a higher volume of properties coming to market in Edinburgh, the Lothians, Fife and the Borders compared to the previous two years. Due to the COVID-19 restrictions during this period in 2020 the volume of new listings was exceptionally low, however we have seen a 1.09% increase on the same period in 2019.

In Edinburgh, new property listings increased by 266% year-on-year and 5.47% on the same period in 2019.

East Lothian however saw 14.59% less listings than the same period in 2019 (222% up on the same period in 2020). A similar trend is seen in Midlothian with a decrease of 11.29% in new listings compared to 2019, as well as West Fife and Kinross where there was a decrease in new listings of 19.28% compared to the same period in 2019. With strong sales volumes, these areas appear to be proving particularly attractive to buyers.

Confidence from buyers and sellers remains strong

Over the last three months, the average selling price has continued to rise in Edinburgh, the Lothians, Fife and the Borders, and was up 13.2% year-on-year and up 6.2% on the same period in 2019. The average property selling price in these areas was £261,369.

Selling prices rose across many areas. The average selling price in Edinburgh was £277,496, up 9.92% on the same period last year and up 6.48% on the same period 2019.

In Midlothian, properties sold for an average of £221,657 between March to May 2021, up 17.77% annually and up 5.96% during the same period in 2019. In East Lothian, the average selling price during these months was £267,803 up 20.13% annually and up 5.75% on 2019.

In West Fife and Kinross, there was a 4.34% annual increase in the average selling price, currently sitting at £191,316. This was up 16.47% on the same period in 2019.

The average selling price in the Borders was £212,105, which was up 4.43% annually but down by 3.06% on the same period in 2019. This was due to a higher proportion of lower value homes selling, as opposed to an actual drop in house value.

Between March and May 2021, the average percentage of Home Report valuation achieved in Edinburgh, the Lothians, Fife and the Borders was 103.2%. This was similar to March to May 2020 and 2019 which was 103.4% and 103.0% respectively.

The biggest changes in the average amount of Home Report valuation achieved were noted in Edinburgh and the Borders. Whilst Edinburgh saw a 1.85% decrease in the average percentage achieved (reducing to 103.1%), the Borders saw a 3.4% annual increase to 101.1%.

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Median time to sell continues to decrease across the area

Across Edinburgh, the Lothians, Fife and the Borders the median time to sell was 21 days between March and May 2021. This was one day faster than last year and the same as the same period in 2019.

Despite the sales volume increasing along with the average selling price, in Edinburgh the median time to sell saw an increase from both 2020 and 2019. Between March and May 2021, the median time to sell in Edinburgh was 25 days. This was eight days slower than the same period last year and five days slower than the same period in 2019.

Paul Hilton, CEO of ESPC, said: “The data tells a very interesting story this month, highlighting that despite the challenges of the lockdown restrictions last year the market has proved to be very resilient. It is clear that there is still strong demand from both home buyers and sellers utilising the ESPC network of solicitor estate agents to move home.

“The overall increases in sales volume and selling prices indicate confidence in the market. However, it is important to remember that each property sale is unique and the average selling price data is indicative of overall market trends rather than individual properties. Taking advice from a solicitor estate agent if you are thinking of buying or selling is essential as they will help you navigate through the property market.”

Find out more

Find out average property selling prices for different areas and property types in our house price table.

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ESPC is the home of property and we're here to help you with every step of your home buying and selling journey. If you're thinking of buying or selling a property soon, you can make use of our free phone service to be put in touch with a property expert to help answer your questions. Sellers can also get a free property valuation with ESPC agents.

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