Midlothian house prices increased in April

House prices increased by 1.8 per cent in Midlothian in April, new figures show.

By Radar
Thursday, 23rd June 2022, 2:26 pm
Updated Thursday, 23rd June 2022, 2:28 pm

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 13.7 per cent over the last year.

The average Midlothian house price in April was £232,620, Land Registry figures show – a 1.8 per cent increase on March. Over the month, the picture was different to that across Scotland, where prices increased three per cent, but Midlothian was above the 1.1 per cent rise for the UK as a whole.

The average sale price of property in Midlothian rose by £28,000 in the last year– putting the area 12th among Scotland’s 32 local authorities with price data for annual growth.

Sign up to our daily newsletter

Owners of detached houses saw the biggest rise in property prices in Midlothian in April – they increased 2.4%, to £447,126 on average.

First-time buyers in Midlothian spent an average of £190,000 on their property – £20,000 more than a year ago, and £57,000 more than in 2017.

By comparison, former owner-occupiers paid £276,000 on average in April – 44.9 per cent more than first-time buyers.