Midlothian house prices increased slightly in November

House prices increased slightly, by 0.3 per cent, in Midlothian in November, new figures show.

By Radar
Friday, 21st January 2022, 6:00 am
Updated Friday, 21st January 2022, 10:52 am
File photo
File photo

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 14.4 per cent annual growth.

The average Midlothian house price in November was £225,070, Land Registry figures show – a 0.3 per cent increase on October.

Over the month, the picture was less good than that across Scotland, where prices increased one per cent, and Midlothian underperformed compared to the 1.2 per cent rise for the UK as a whole.

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

The best annual growth in the region was in Argyll and Bute, where property prices increased on average by 18.6 per cent, to £182,000. At the other end of the scale, properties in Na h-Eileanan Siar gained just 0.4 per cent in value, giving an average price of £132,000.

Owners of detached houses saw the biggest improvement in property prices in Midlothian in November – they increased 0.7 per cent, to £423,982 on average. Over the last year, prices rose by 20 per cent.

Buyers paid 23.2 per cent more than the average price in Scotland (£183,000) in November for a property in Midlothian. The most expensive properties in Scotland were in Edinburgh – £317,000 on average, and 1.4 times as much as more than in Midlothian.

First-time buyers in Midlothian spent an average of £186,000 on their property – £21,000 more than a year ago, and £50,000 more than in November 2016. By comparison, former owner-occupiers paid £265,000 on average in November – 42.9 per cent more than first-time buyers.