Leading Edinburgh-based property company, ESPC, has revealed the top-selling areas for properties across East Scotland during the first half of 2021.
It may come as no surprise to many that the sought-after suburbs of Edinburgh City achieved the highest selling prices in the first six months of 2021.
Edinburgh’s coveted West End was the top location for average selling price, with properties in this postcode selling for an average of £590,913.
This was followed by the exclusive areas of Grange and Greenbank, with average prices of £517,757 and £517,709, respectively.
The popular pocket of Warriston saw the greatest year-on-year increase in average selling price so far in 2021, rising to £394,519.
Fashionable Leith boasted the highest volume of property sales so far in 2021, with 245 properties sold in the area in the first six months of the year.
This hotspot was closely followed by Dunfermline, with 237 properties sold, and the popular Edinburgh suburb of Corstorphine, where 219 properties were snapped up by eager buyers.
There was also a significant number of sales of homes located in Musselburgh and Liberton, as buyers sought homes in suburban spaces closer to the coast and green spaces, but still with excellent connectivity to the city centre.
Homes have been selling quickly throughout 2021 so far, with an average time of 20 days across Edinburgh, the Lothians, Fife and the Borders before properties are marked under offer.
Buyers in Niddrie, however, have had to act particularly fast to secure their chosen homes, as properties here have gone under offer in a median time of just eight days.
Coldstream in the Borders and Edinburgh’s Parkhead have been similarly popular, with homes in these areas going under offer within a median of nine days so far this year.
Buyers keen to snap up a forever home by the sea have ensured that Joppa, on Edinburgh’s eastern coast, became ESPC’s top performing location in terms of Home Report valuations.
The popular seaside suburb saw its properties achieve an average of 111.7% of their Home Report valuations, as buyers topped up their offers to further their chances of sale success.
Similarly, the coastal town of Port Seton was popular with buyers, with properties achieving an average of 108.1% of Home Report valuation.
The first six months of 2021 saw several districts across the East of Scotland, particularly in and around Edinburgh, experience a rise in the numbers of closing dates set.
Closing dates are great indicators of a competitive marketplace, with demand outstripping supply across many areas.
Closing dates were most prevalent in the East Lothian town of East Linton, where 70% of properties sold through ESPC agents subsequently went to a closing date.
Joppa once again proved popular with buyers, as 65% of properties there went to closing dates, while 62% of properties in the desirable pocket of Colinton Mains had a closing date set.
Paul Hilton, CEO of ESPC, said: “The first six months of 2021 have been incredibly buoyant for the Scottish property market, with many buyers and sellers showing increasing confidence in the market, continuing the trends that we began to see in the second half of 2020.
“While it may come as no surprise that some of Edinburgh’s most traditionally desirable neighbourhoods have seen the highest selling prices, there are also fantastic opportunities for first-time buyers in the current market.
"It’s a great time to buy in areas such as Leith and Dunfermline, with plenty of properties to choose from, and it’s encouraging to see that homes are flying off the market in more affordable parts of the city, such as Niddrie and Parkhead, which suggests that first-time buyers are putting their stamp on the market.
“We look forward to seeing what the rest of 2021 brings for buyers and sellers alike.”
