Gorgie and Dalry among most sought after for first time buyers

The data was compiled by property experts ESPC
The data was compiled by property experts ESPC
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Gorgie and Dalry is rising up the ranks of Edinburgh’s most sought after locations when it comes to first time buyers, according to latest figures.

The number of one bedroom flats sold in the area over the last three months rose by 25.9 per cent compared to the same period last year.

Meanwhile in Leith - another popular spot for those looking to get on the property ladder - the number of one bedroom flats sold dropped by 4.5 per cent year on year.

According to property experts ESPC, which compiled the figures, the reason for what appears to be a switch in popularity from Leith to Gorgie/Dalry can be put down to it being one of the most affordable areas in the city where there is a ready supply of flats.

In Leith, the average selling price of a one bedroom flat has increased by 7.6 per cent, with an average selling price of £137,958, while in Gorgie and Dalry the average selling price is £129,585 - an increase of 14.2 per cent.

Maria Botha Lopez, business analyst at ESPC, said: “The new normal seems to be a market without an abundance of new listings replenishing the available supply.

“This tips the market in favour of sellers, who are likely to see a lot of interest in their property if it is located in a sought-after area, and meets the needs of the buyers on the market.

“A short time to sell, and selling prices over Home Report valuation are the norm within Edinburgh, with calmer conditions in the outlying areas of Fife and the Lothians.

“Being a seller’s market, this means that those looking to buy a property will often need additional savings or cash flow to purchase a property that’s going for over the home report valuation, but looking out of Edinburgh or purchasing a new build property could be an alternative.”

According to ESPC, the median ‘time-to-sell’ across east central Scotland was down to 16 days between April and June 2017, some 19.8 per cent faster than the same period a year ago.

In Edinburgh, this figure is down to just 14 days.