One-bed flats rocket in price despite upswing in new homes

One bedroom flats in Polwarth, Shandon and Tollcross have rocketed in price. Picture: TSPL
One bedroom flats in Polwarth, Shandon and Tollcross have rocketed in price. Picture: TSPL
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Selling prices for one-bedroom flats in Polwarth, Shandon and Tollcross have seen an increase of over 17 per cent with an average price tag of £202,440.

Buyers of these properties paid the highest over Home 
Report valuation at 12.1 per cent according to the latest figures from ESPC. These properties were also among the quickest to go under offer, with offers being accepted within 13 days for half of those sold between April and June.

Across the city prices increased by 5.1 per cent compared to the same time last year.

ESPC’s business analyst Maria Botha-Lopez said: “A shortage of properties coming to market has been a pressure point for the residential 
housing market in Edinburgh and the Lothians in recent years, so a positive upswing in the number of properties being listed reported by ESPC is an encouraging sign for buyers and those looking to take their next step on the property ladder.”