House prices rose 8% in Edinburgh area in Q4

The average selling price of homes in Edinburgh, Lothians, Fife and the Borders increased 8.1% year-on-year to £269,542 in the final three months of 2020, according to the latest House Price Report from ESPC.

In Edinburgh, prices rose 6.3% year-on-year to £286,052.

Two bedroom flats in Portobello and Joppa saw a 15.5% increase in average selling price, rising to £273,591.

However, two bedroom flats in the Edinburgh’s New Town and West End saw a 15.3% decrease, dropping to £397,183.

“This decrease is partially due to more lower value properties in the New Town being listed on ESPC in recent months compared to last year,” said ESPC.

Homes in East Fife sold for an average of £277,619, up 18.6% on last year.

Average prices in West Fife and Kinross were up 15.9% year-on-year.

The average price for the Scottish Borders was £263,323, up 14.8% on last year.

In Midlothian, prices were up 10.6% while West Lothian properties saw an 11.5% increase.

In East Lothian, prices rose 6.3%.

ESPC said that from October to December 2020, the volume of property sales was up 39.7% compared to last year.

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.