Podcast: An update on the property market in Midlothian
In this episode of the ESPC podcast, Paul and Megan chat to Amy Howard from Neilsons and Lisa Connolly from McDougall McQueen about the local market in Midlothian. Along with discussing the booming market in Bonnyrigg, the panel talk about the 2025 property outlook for the region as well as why you should invest in Gorebridge.
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Key Insights
Geographical appeal of Midlothian
The region boasts a scenic landscape with green spaces, charming villages, and excellent proximity to Edinburgh. Key towns like Dalkeith, Bonnyrigg, and Penicuik have strong amenities, shopping, and educational facilities, making the Midlothian well-rounded for various lifestyles.
Amenities and infrastructure
Midlothian is already well-equipped with primary and secondary schools, independent retailers, and local medical facilities, however the region is also expanding in terms of new builds and infrastructure, with train connections to Edinburgh enhancing its appeal for commuters.
Community and lifestyle appeal
Midlothian’s less transient, community-oriented atmosphere is distinct from Edinburgh’s more dynamic, tourist-driven market. This stability supports a more relaxed housing market and appeals to buyers looking to establish roots, benefiting first-time buyers and families.
Property market overview
The local property market remains strong, with stable demand despite longer median listing times (27 days, up from 23). Home Report valuations have aligned more closely with market trends, with an 11% increase in average selling prices in 2024. The market shows a balance between supply and demand, especially compared to national averages.
“Organic Market” and first-time buyers
There’s a resurgence of first-time buyers, enabling an organic flow in the housing market. This natural market evolution allows buyers to gradually move up from smaller properties to larger family homes, creating a steady and sustainable market.
Investment hotspots
Areas like Bonnyrigg, Gorebridge, and Newtongrange are highlighted as investment hotspots due to affordable property prices and strong rental returns. Properties in these regions are highly desirable, especially with commuter links to Edinburgh and ongoing developments.
Challenges with the new build market
New builds, while popular, present challenges when resold, especially if the developer is still on-site. Buyers may prefer new builds for customisations and incentives, but resale new builds offer convenience for buyers who want move-in-ready homes without additional setup.
Future market outlook and influence of policies
Midlothian's market stability is expected to continue, especially with upcoming elections. Housing policies, mortgage rates, and government incentives may influence market activity in 2025. New housing developments are likely, given Midlothian’s potential for growth as part of Scotland’s broader expansion needs.
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