A new report from solicitor estate agent MOV8 Real Estate, using data supplied by Edinburgh Solicitors Property Centre (ESPC) for January to November 2021, shows the winners in property sales across Edinburgh, the Lothians and Fife.
Top 5 districts by sales volume
The districts that have had the highest volume of properties sold are:
Dunfermline has been a popular place to live for many years. It has always offered a great blend of affordable housing, local amenities and commutable distance to Edinburgh. Over the past few years there has also been a large number of new build housing developments, which are now starting to filter through to the resale market, helping boost sales volumes.
Top 5 districts by average % above Home Report valuation
The districts that have achieved the highest % above Home Report valuation on properties sold:
1 Hillside - 117% above
2 Joppa - 113% above
3 Dunbar - 112.8% above
4 Gullane - 110.9% above
5 Greenbank - 110.6% above
Being right in the city centre, Hillside is a very popular district for those looking to live the city lifestyle. Being in such an attractive area, it is understandable why it tops the list for achieving the most over Home Report valuation. With the tram extension and new St James Quarter, there is also a lot of investment happening around the area.
Top 5 districts by growth in sales volumes
The districts that have had the biggest increase year-on-year in the volume of properties sold:
1 Lochend - 340% increase
2 Cramond - 183.3% increase
3 Saughton - 146.2% increase
4 Craiglockhart - 130.8% increase
5 Granton - 129.5% increase
With an average selling price in 2021 of £189,983, Lochend is a reasonably affordable area in Edinburgh to live in. With close proximity to the popular area of Leith, it is understandable why it has been popular for property sales in 2021. The area has also had many new build developments built over recent years, which will be now filtering through to the resale market and helping to increase sales volumes.
Top 5 districts by increase in average selling price
The districts that have had the biggest increase in the average selling price of properties sold:
1 Blackford - 38.7% increase. Average selling price in 2021 was £301,061
2 West End - 27.5% increase. Average selling price in 2021 was £549,976
3 Gullane - 22.9% increase. Average selling price in 2021 was £454,986
4 Willowbrae - 22.1% increase. Average selling price in 2021 was £336,096
5 Rosyth - 20% increase. Average selling price in 2021 was £149,527
There has been an increase in those looking for easier access to outdoor space and larger properties, which is perhaps why Blackford has topped the list of the biggest increase in average selling price in 2021. It is perfectly positioned, with the Braids and Blackford Hill, whilst also being close to Edinburgh amenities and providing large properties for sale.
Top 5 property types by increase in average selling price
The property types in districts that had the highest sales volumes in 2021:
1 Two bedroom flats in Leith
2 One bedroom flats in Leith
3 Three bedroom houses in Dunfermline
4 Two bedroom flats in Corstorphine
5 Two bedroom flats in Newington
In terms of property sales volumes, Leith has been a top performer for many years and 2021 was no exception. Due to the nature of the geography of Leith, the majority of properties are one and two bedroom flats. This year, many first time buyers have been able to secure their first flat in the area, alongside some short-term let investors selling their flats in the area.
Many different regions performing well in the property market
Reviewing the different winning districts for 2021 it is clear that while Edinburgh still remains a popular place to buy property, many other regions such as East Lothian and Fife have also been popular. This shows the mixture of buying needs across the population, whether it is a city pad in Edinburgh, family home in Fife or coastal retreat in East Lothian.
No districts in Midlothian or West Lothian made the top five lists, however, many areas across these two regions have still been very popular in 2021, with sales figures showing an increase.