The ESPC House Price Report for September 2024 shows that the average property selling price across Edinburgh, the Lothians, Fife, and the Borders was £290,259 in July to September 2024.
This figure was 4.9% higher than the same period last year.
Properties sold for an average of 102.2% of their Home Report valuation, a decrease of 1.2 percentage points from the previous year.
Sales volumes were up 19.3%, and new property listings increased by 13.5%.
The median selling time was 22 days, which is two days slower than July to September 2023, with 22.3% of properties going to a closing date.
The City of Edinburgh’s average selling price increased by 4.7% to £307,850, making it the most expensive area to buy property.
In contrast, West Fife had the lowest average selling price at £229,635, up 5.8% from the same period last year.
The Borders saw an 8% increase in average selling prices, bringing the figure to £240,052. In the Capital, properties in the south of the city were priced the highest, with an average of £366,241, a 9.7% increase.
The city centre also experienced a substantial rise, with a 14.1% increase to an average of £349,278.
Dunfermline had a 9.2% annual increase in average selling prices, with the average now at £218,503.
One-bedroom flats in the city remained the cheapest properties in the region, selling for an average of £98,150.
Paul Hilton, CEO of ESPC, said: “The past few months have seen some real reasons to be cheerful when it comes to the property market, and September’s report offers more of the same.
“There’s been a healthy boost to average selling prices, which is great news for sellers, while for buyers, the volumes of properties coming onto the market, and the reduction in the amount of Home Report valuation paid on average offers plenty of opportunities that were lacking in recent years, especially for those looking to take their first steps onto the property ladder.”
He added: “It’s fantastic to see a return to high confidence in the market from buyers and sellers alike, which will keep the market moving well into the autumn months.”
