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House Price Report, July 2019

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Category: News
30 August 2019
The ESPC have just published their House Price Report for July 2019 and the key points of interest are as undernoted:-
 
•    In Edinburgh, the Lothians, Fife and the Borders, the average selling price from May 2019 until July 2019 was £256,730, an increase of 4.1% from the previous year. In East Lothian the average selling price (£248,729) increased by 6.7% year-on-year, and in Midlothian the average selling price rose by 4.7%
•    During the last three months, the total sales volume in these areas rose by 8.2% year on year. This is due to the rising volume of properties coming to the market at the end of 2018 and beginning of 2019.

•    However the number of homes placed on the market decreased by 6.3% compared to the same period last year.  Jamie Fraser-Davidson, Business Analyst at ESPC said “This may be down to sellers becoming less confident as Brexit approaches but rising selling prices and sales volumes indicate that the demand remains strong. The Bank of England’s decision to keep the interest rate at the current level of 0.75% is good news for borrowers. However, with less properties coming to the market, the lack of supply and high demand will continue to drive up selling prices which is not good news for first time buyers who are trying to get on the property ladder.
•     In Edinburgh, the Lothians, Fife and the Borders, the average percentage of Home Report valuation achieved was 103.2% between May and July 2019, compared to 105.1% last year.
•    Top selling properties for the period May – July – two bedroom flats in Leith followed by three bedroom houses in Dunfermline.
•    Top selling properties in Dunbar for the period May - July - three bedroom houses followed by four bedroom houses
•    Top selling properties in Haddington for the period May - July   - three bedroom houses  followed by two bedroom houses
•    Top selling properties in North Berwick  for the period May - July  - two bedroom flats followed by four bedroom houses

If you are considering selling, we offer free pre-sale market appraisals. One of our qualified Property Managers would be happy to come out and meet with you in your home.  Please call in to one of our local offices in Dunbar, Haddington and North Berwick for further information, or alternatively email This email address is being protected from spambots. You need JavaScript enabled to view it..

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Paris Steele has been providing a comprehensive legal service to the residents of East Lothian since 1926. We have offices in North Berwick and Dunbar and are proud to combine the highest quality of professional advice with first rate customer service. We understand the importance of getting to know you and our legal services will be individually tailored to meet your needs and resources. We are happy to act for both individuals and businesses. Our services are available to everyone and whilst our area of practice is limited to within Scotland we have clients from the whole of the UK and overseas.

We understand the importance of getting to know you and our legal services will be individually tailored to meet your needs and resources. We are happy to act for both individuals and businesses.