Certain property types in these areas of Edinburgh and the Lothians increased in price by over 10% in the last year
Despite the obvious difficulties, 2021 proved to be a very busy year in the property market, and 2022 seems to have kicked off in a similar fashion.
Leading solicitor estate agent MOV8 Real Estate took a look at some of the high performing areas across Edinburgh and the Lothians in terms of increases in selling price, and found that certain property types in these areas have all increased in price by over 10% compared to last year.
The data was supplied by Edinburgh Solicitors Property Centre (ESPC), and compared the periods November 2020 to January 2021 and November 2021 to January 2022.
West Lothian - all properties
Properties in West Lothian have increased a significant 37.6% compared to last year. The average selling price was £212,426, however it is now sitting at £292,394. Homes with extra space and a garden have been very popular over recent times and it’s likely home buyers are finding both of these in West Lothian, driving up the average selling price.
Currie / Balerno / Juniper Green - 3 bedroom houses
Between November 2020 and January 2021 you would have paid on average £326,152 for a three bedroom house in Currie, Balerno and Juniper Green, during the same period 2021/2022 the average selling price has increased 19.9% to £391,080.
Situated on the outskirts of Edinburgh, this area is perfect for those looking for more space, but still wanting to have easy access to the city. It’s understandable therefore that properties in these areas have been popular, driving the average selling price up.
Corstorphine / Clermiston / South Gyle / East Craigs - 3 bedroom houses
The average selling price for a three bedroom house in Corstorphine, Clermiston, South Gyle and East Craigs has risen 14.3% from £327,454 to £374,287. This may be due to the fact that for those looking for a family home, but not wanting to leave the comforts of Edinburgh, this area can be a very popular choice.
Morningside / Merchiston - 2 bedroom flats
Two bedroom flats in Morningside and Merchiston have been popular recently increasing in price by 12.5% from £296,330 to £333,326. This is likely due to a number of factors, including the popularity of the areas with students, and therefore buy to let investors. Another thing to consider is that many of the flats in these areas are traditional Edinburgh tenements, which may offer more space and flexibility for those wanting to live in a flat, but also work from home.
Blackhall / Davidsons Mains / Silverknowes - 3 bedroom houses
Between November 2020 and January 2021 you would have on average paid £387,406 for a three bedroom house in Blackhall, Davidsons Mains and Silverknowes, during the same period 2021/2022 the average selling price has increased 10.7% to £429,040.
Just west of the city centre, this area has always been a popular choice for families in the city, and at the most expensive on the list, the price is clearly reflected in the current demand.
Abbeyhill / Meadowbank - 1 bedroom flat
One bedroom flats in Abbeyhill and Meadowbank have increased 10.2% compared to last year. The average selling price was £161,819, however it is now sitting at £178,374. This may be due to a number of factors, including the area's proximity to Leith and Holyrood Park. Leith has been an area of choice for many first time buyers over the years, however, it isn’t as affordable as it used to be. Home buyers may be looking to areas close by for more affordable flats.
Many different areas and property types performing well
Across all areas there are a couple of common themes, including more internal and external space, however, flats in some areas of the city still continue to be popular for buyers, and ultimately the more in demand an area is, the more likely prices are to continue to rise.