Midlothian property market data – key points

  • The average selling price of property in Midlothian increased 5.2% year-on-year during March 2022-May 2022. 
  • The median selling time dropped to 13 days. 
  • Sales volumes were down 17.8% year-on-year during this time, while new property listings decreased by 5.1%. 
  • Buyers paid 107.6% of Home Report valuation on average for homes in Midlothian.
  • 39.2% of Midlothian sellers opted to set a closing date during this time. 


Average property selling prices in Midlothian 

The average selling price of property in Midlothian increased 5.2% year-on-year during the period of March 2022-May 2022, taking the average from £224,483 to £236,183. 

Properties in Newtongrange had the highest average selling price at £273,078 – 9.2% lower than the same time during March-May 2021. Meanwhile, homes in Bonnyrigg saw the biggest increase in average selling price at 22.2%, taking the new average there to £236,412. 

Two-bedroom flats in Penicuik were the most affordable property type in Midlothian, with an average selling price of £111,718. 


Volume of property sales and homes coming to market 

Comparing March-May 2022 with March-May 2021, we can see that there are less properties coming to market, as sales and new property listings return to levels more typically seen pre-pandemic. 

Sales volumes were down 17.8% but this is to be expected given the comparison to a post-lockdown period of 2021, when pent-up demand and competition were exceptionally high. 

Three-bedroom houses in Bonnyrigg and Penicuik respectively performed best across Midlothian, with clear demand for this property type. However, two-bed houses in Penicuik had the highest increase in volume of sales. This was followed by two-bedroom flats in Penicuik. 

There were also fewer properties coming to the market, with new property insertions down 5.1% year-on-year. 

The greatest volume of homes listed for sale were three-bedroom houses in Bonnyrigg, with a 125% increase annually. This was followed by two-bed flats in Bonnyrigg, up 40% year-on-year. .


House selling times in Midlothian 

Buyers continued to compete for homes in Midlothian during March 2022-May 2022, demonstrated by the median selling time dropping to 13 days, six days faster than the same time the previous year. 

A total of 39.2% of Midlothian homes went to a closing date during this time, up from 36% in 2021, showing how strong demand has grown for properties in the area. 

Average percentage of Home Report valuation achieved 

Buyers were also willing to pay a higher price in order to secure a property in Midlothian. On average, properties attained 107.6% of their Home Report valuation, a rise of 4.1% compared to the same period last year. 

Demand for three-bedroom homes in Midlothian continues 

Paul Hilton, CEO of ESPC, said: “It’s been a busy three months in the property market with plenty of buyer interest resulting in an increase in the average selling price of properties in Midlothian. 

“It’s no surprise that Bonnyrigg, Penicuik and Loanhead continue to be popular areas for families to live, with three-bedroom homes continuing to dominate, a trend we’ve been witnessing for the past few months.  

“Midlothian offers an ideal location for family living, with a number of primary and secondary schools and places of interest suitable for family entertainment such as Midlothian Snowsports Centre and Vogrie Country Park. 

“If you are considering buying or selling in Midlothian, contact your local ESPC agent today.”