Is your home in a property hotspot?
As 2024 draws to a close, let’s look back at this year’s property hotspots.
In reviewing data during the period between January 1st and November 30th and comparing it to the previous year, we’ve discovered the areas with the highest surge in sales in 2024, provided the given area has recorded at least 20 sales. Let’s look at the property hotspots for some of our key regions...
Edinburgh Property Hotspots
Whilst much-loved areas including Leith, Corstorphine, Newington and Morningside continue to see huge numbers of properties go to market, some interesting areas of Edinburgh have seen the biggest surge in property sales.
Located in Edinburgh East, the Wisp is a well-established residential area offering convenient connections to the city centre as well as the Royal Infirmary. Homes sales in the Wisp increased 139% year on year, with an average sale price of £241,608.
Also located in Edinburgh East, Hillside saw an increase in property sales of 122% and an average sale price of £318,387. The area, within walking distance to the capital’s bustling centre as well as vibrant Leith Walk, is a great place to consider if you’re looking for a flat.
With an average sale price of £417,119 and an increase in sales of 118% year on year, the West End slots into third place in our Edinburgh hotspots list. Like Hillside, it’s a great place to find flats, whether modern or traditional, close to the beating heart of the capital.
Fife Property Hotspots
Looking at the region as a whole (West Fife & Kinross and East Fife), it will come as no surprise that Dunfermline tops the list in terms of total sales for the year. A whopping 572 properties went to market during the period, which is a huge increase on the 2nd most active area, which was Kirkcaldy with 50 sales.
Situated close to ever-popular Dunfermline, the 2 towns that saw the greatest growth in sales were Inverkeithing and Dalgety Bay. Attractive to buyers looking for great links to Edinburgh, the towns feature a variety of housing options and a train station with frequent services to the capital.
With a surge in sales of 113%, Inverkeithing tops the list of property hotspots in Fife, and saw an average sale price of £179,921. Dalgety Bay was in 2nd place with an increase in sales of 44% and an average sale price of £249,202.
Kirkcaldy followed close behind with an average sale price of £211,484 and an increase of 32% in year-on-year sales. Like Inverkeithing and Dalgety Bay, the town has convenient links to the capital and throughout Fife, and a great variety of properties.
East Lothian Property Hotspots
Offering similar choices to Fife, such as beautiful coastal towns and places to live that provide convenient links to Edinburgh, East Lothian’s property market was busy again this year. Typically popular towns recording the highest volumes of sale included Musselburgh, Haddington, Tranent, Dunbar and Prestonpans.
In terms of towns experiencing a surge in sales compared to 2023, Wallyford came out on top with an increase of 80%. One of the nearest towns to Edinburgh in the region, Wallyford offers a diverse array of housing, plenty of local amenities and great links to the capital. The average house price here was £246,976.
With an increase in year-on-year sales of 63%, Longniddry is slightly further afield from the capital than Wallyford, but lies closer to the coast. The town’s property offering is more expensive too, with an average sale price of £404,788.
Located much further inland than Wallyford and Longniddry, Pencaitland was the third placed hotspot of the region, seeing an increase of 50% in sales compared to 2023, and an average sales price of £350,719.
Midlothian Property Hotspots
Another popular region for a variety of home buyers, from first-time buyers and upsizing families to recent retires, Midlothian was a busy market again in 2024. The towns of Dalkeith, Bonnyrigg and Penicuik saw the majority of sales in the region.
With a year-on-year increase in sales of 150%, Eskbank was the top property hotspot in Midlothian. A suburb of Dalkeith, Eskbank commands a higher average sale price than Dalkeith - £374,794. The suburb is popular due to its variety of property options and train station with frequent services to Edinburgh.
The next stop on the Borders Railway to the south of Eskbank is Newtongrange, which sits 2nd in the list of Midlothian property hotspots. The town saw an 85% increase in sales compared to the previous year, and an average house price of £260,285, making it considerably more affordable than Eskbank.
For even more affordable properties, consider staying in Mayfield. The average house price here was £166,258, and the increase in sales against 2023 was 68%.
Scottish Borders Property Hotspots
In the Scottish Borders, it was Galashiels and Peebles that saw the majority of property sales, without much fluctuation in terms of a sales increase compared to the previous year. Only a couple of towns in the region experienced a notable surge in sales this year, one being Coldstream and the other, Selkirk.
Perched against the meandering bends of the river Tweed and a literal stone’s throw from England, Coldstream had a surge in year-on-year sales of 117% and an average sale price of £232,103.
Recording the third highest volume of sales after Galashiels and Peebles, Selkirk saw 72% more sales than it did in 2023, and had a very affordable average house price of £161,406, the third lowest in the region.
Dumfries & Galloway Property Hotspots
In Dumfries & Galloway, Kirkcudbright, Castle Douglas and Dumfries Town were the top 3 locations in terms of sales volumes, but only Dumfries town showed a surge in sales volume compared to the previous year.
The standout location in terms of an increase in sales was Langholm, which enjoyed a significant surge of 250%. Property prices in the town were some of the most affordable in the region, with an average price of £138,595.
Second on the list was Dalbeattie, which experienced a year-on-year increase of 88% in sales, with an average house price of £154,592. Dumfries Town was also affordable, with an average house price of £159,495 and a year-on-year increase in sales of 23%.
Thinking of selling?
With a wealth of local property knowledge, ESPC solicitor estate agents make the home selling processes as easy as possible. If you’re looking to sell a house or flat, get a free valuation from an ESPC solicitor estate agent.