Edinburgh house prices soar by more than 20 per cent in two city neighbourhoods
05-05-2021
A three-bedroom home up for sale in Gilmerton
Edinburgh house prices soar by more than 20 per cent in two city neighbourhoods
The latest statistics courtesy of ESPC show the price of property has risen in two areas significantly more than anywhere else in the Scottish capital.
By Robert FairnieDigital Journalist
The price of three bedroom homes in Gilmerton has increased significantly in the last year (Image: ESPC)
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House prices have increased by more than 20 per cent in two Edinburgh neighbourhoods according to new figures.
Fresh data from ESPC shows that the cost of three bedroom homes have gone up by 23.4 per cent in the Liberton and Gilmerton area (from £228,748 to £282,237) and 20.8 per cent in Currie, Balerno and Juniper Green neighbourhood (from £262,167 to£316,585).
The price of three bedroom houses in Corstorphine, Clermiston, South Gyle and East Craigs has also risen by 10.2 per cent from £310,347 to £341,894.
Throughout the city the average price of property has risen from £252,364 to £272,488 an increase of 8 per cent.
The figures are year-on-year for the three month period February to April.
Other Edinburgh neighbourhoods to have seen price rises are as follows:
- Two bedroom flats in Morningside and Merchiston - £303,906 to £344,808 (13.5 per cent increase)
- Two bedroom flats in Newington, Grange and Blackford - £291,194 to £318,326 (9.3 per cent increase)
- Two bedroom flats in Stockbridge, Comely Bank, Fettes and Canonmills - £272,511 to £291,697 (7 per cent increase)
- One bedroom flats in Polwarth, Shandon and Tollcross - £195,100 to £208,772 (7 per cent increase)
- One bedroom flats in Leith Walk, Easter Road, Pilrig and Bonnington - £154,774 to £164,107 (6 per cent increase)
- Neighbourhoods such as Trinity, Newhaven and Inverleith (4.5 per cent increase for two bed flats);
- Marchmont and Bruntsfield (5.2 per cent increase for two bed flats) and Bellevue, Hillside and Broughton (2.2 per cent increase for two bed flats) have also seen things trending upwards.
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On the flip-side there are several neighbourhoods to have seen prices drop year-on-year. These are as follows:
- Three bedroom houses in Blackhall, Davidsons Mains, Silverknowes - £467,883 to £396,656 (decrease of 15.2 per cent)
- Three bedroom houses in Cramond, Barnton and Cammo - £411,227 to £354,286 (decrease of 13.8 per cent)
- One bedroom flats in Abbeyhill and Meadowbank - £183,743 to £164,040 (10.7 per cent decrease)
Other areas to have seen a decrease are three bedroom homes in South Queensferry and Dalmeny (1.8 per cent drop); two bedroom flats in Portobello and Joppa (4.4 per cent drop); two bedroom flats in New Town and West End (1.1 per cent drop); two bedroom flats in Leith, The Shore and Granton (0.8 per cent drop); one bedroom flats in Dalry, Gorgie, Slateford and Chesser (4 per cent drop).
Elsewhere in the Lothians property prices in East Lothian have increased by an average of 4.4 per cent from £255,564 to £266,715. They've also risen in Midlothian by 12 per cent from £179,068 to £188,734 and 0.1 per cent in West Lothian, from £206,054 to £206,040.
ESPC say across Edinburgh, the Lothians, Fife and the Borders the median time to sell was 25 days between February and April. This was two days faster than last year. In Edinburgh, however this increased to 28 days which was six days slower than last year.
All other areas witnessed a decrease in the median time to sell. Properties in East Lothian recorded the largest change, decreasing from a median time to sell of 39 days between February and April 2020 to just 17 days in the same period in 2021, a reduction of 22 days. Homes in West Lothian and the Borders also experienced a large decrease in the median time to sale of 20 and 19 days respectively.