The average selling price of property in Edinburgh, the Lothians, Fife and the Borders experienced a significant increase in 2024, rising by 4.6% to £287,184 – and will continue to grow in 2025
The ESPC House Price Report reveals an increase in the average selling price across Edinburgh, the Lothians, Fife and the Borders – most noticeably in West Fife & Kinross where the average selling price increased 11.8% to £231,582.
Midlothian saw its average selling price rise to £260,237, an increase of 4.4% year-on-year, while Edinburgh’s average rose 3.6% to £300,744.
In the Scottish Borders, property prices increased by 5.1% to £227,164, while in East Lothian, the average selling price dropped marginally 0.1% to £275,007. West Lothian also experienced a slight dip in average selling price, decreasing 0.6% to £241,818.
“This yearly rise demonstrates robust market demand even during traditionally slower months, resulting in the strong activity trends observed in the latter half of 2024 continuing into 2025,” says Paul Hilton, CEO of ESPC, Scotland’s leading central belt estate agent.
How does this impact the housing market for 2025?
According to the ESPC House Price Report, the market in Scotland’s central belt, overall, has remained relatively stable in the last year and although property listings have remained at similar levels, sales volumes have risen significantly.
Paul provides some context, saying, “Buyers continue to have a wider range of options, particularly those looking for one and two-bedroom flats in popular areas of Edinburgh. This may be due to an increasing number of landlords choosing to leave the rental market and sell their properties in response to ongoing legislative changes, such as the increase in Additional Dwelling Supplement (ADS) from six percent to eight percent.
“But a key thing to remember is that the average selling price still continues to rise at a steady pace, which shows strong market demand across the board – even in typically slower periods.”
Things to be aware of when selling your property in 2025
The ESPC House Price Report also states that despite the 2.1% drop in the volume of homes coming onto the market in November 2024 – January 2025 compared to the previous year, there was still a decent amount of choice for potential buyers. However, the slight decrease would have brought more competition during the period, resulting in homes going under offer two days quicker than the previous period.
“Dunfermline, along with the areas surrounding Leith and East Edinburgh, remains a property hotspot,” Paul says. “Particularly popular with first-time buyers and those upgrading to their first family homes. There have also been positive signs in West Lothian, with homes being snapped up far quicker at this time of year compared to the previous year.”
Also notable is a recurring trend that shows a steady 76.9% increase, year-on-year, for one-bedroom flats in Gorgie specifically. This raises competition in the area – a trend seen in most central belt areas. “This is good news for sellers because 85.1% of homes were listed using the ‘offers over’ pricing structure last year as a result. Again, this is expected to maintain into 2025, if not grow,” Paul confirms.
Potential buyers say that the speedier the sales process, the better
The ESPC House Price Report cites West Fife & Kinross as the area with the fastest-selling properties, with homes going under offer in just 14 days. This was five days faster than the median time recorded for the area last year. By contrast, neighbouring East Fife was the slowest to sell, with homes taking 37 days to be snapped up – this is ten days slower than the same time last year.
In an interesting swing, though, properties in West Lothian sold on average, 17 days quicker than last year, with a median selling time of 22 days. Two-bedroom houses in Dunfermline were the quickest-selling property type overall, with eager buyers snapping up these properties in only eight days
So, if you want to boost your home’s selling power, ESPC recommends making sure you’re willing to make the handover period a speedy one.
Are you a buyer? Here are the best places to buy a house in Scotland’s central belt, according to ESPC
In a trend seen for many months at ESPC, Dunfermline, Leith and Corstorphine generated the highest levels of property listings. Although achieving the most insertions, Dunfermline managed just a 1% increase year-on-year, while Leith was up 22.6%, and Corstorphine had 30.9% more listings than the same time the previous year.
“Dunfermline, along with the areas surrounding Leith and East Edinburgh, remains a property hotspot, particularly popular with first-time buyers and those upgrading to their first family homes. There have also been positive signs in West Lothian, with homes being snapped up far quicker at this time of year compared to the previous year,” Paul explains.
This increased demand and competition can still be positive for buyers. Though ‘offers over’ are becoming more popular, the starting price will be lower to accommodate and maintain buyer interest.
Key take aways from the ESPC House Price Report
- The average selling price of property in Edinburgh, the Lothians, Fife and the Borders was £287,184 during November 2024 – January 2025, up 4.6% year-on-year
- Properties achieved 101.6% of their Home Report valuation on average, down 0.1 percentage points on the same time last year
- New property listings were down 2.1% while sales volumes increased 21.6%
- The median selling time for property was 22 days, two days quicker than seen in the period November 2023 – January 2024
- 6% of homes went to a closing date, up from 18.8% last year
Learn more by vising the ESPC website
