The latest ESPC house price report found the average property selling price in Edinburgh, the Lothians, Fife, and the Borders was £287,184, marking a 4.6% rise from the previous year.
West Fife & Kinross saw an 11.8% increase to £231,582, followed by Midlothian at 4.4% to £260,237.
Edinburgh’s average price rose by 3.6% to £300,744.
East Lothian and West Lothian experienced small decreases in property prices.
Edinburgh North West saw a notable 20% increase in selling prices, with Kirkliston going up by 37.1% to £331,044 and South Queensferry rising 17.4% to £273,420.
Leith’s two-bedroom flats jumped by 12.5% to £261,486, and one-bedroom flats rose by 8% to £183,797.
In Portobello, two-bedroom flats increased by 11.7%, reaching £303,516.
The report highlighted stability around Home Report valuations, with properties selling closer to their valuation and 72.5% of homes selling for at least their valuation, unchanged from the year before.
West Fife & Kinross and Edinburgh had increased percentages over valuations, contrasting with slight decreases in Midlothian and East Lothian.
Selling times improved, with West Fife & Kinross properties selling fastest, going under offer in 14 days, while East Fife lagged, taking 37 days.
Two-bedroom houses in Dunfermline sold quickest overall at eight days, and similar speed was seen in Portobello and Willowbrae for flats.
Despite fewer homes entering the market, sales volumes rose significantly by 21.6%.
Leith and North Edinburgh suburbs like Trinity saw massive sales volume increases, with two-bedroom flats in Leith leading the sales charge.
Paul Hilton, CEO of ESPC, said: “The property market is usually much quieter between November and January, however there was a lot of positivity.
“Overall, the market has remained relatively stable, and although property listings have remained at similar levels, sales volumes have risen significantly.”
“Buyers continue to have a wider range of options, particularly those looking for one- and two-bedroom flats in popular areas of Edinburgh.”
Hilton added: “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.
“The average selling price continues to rise at a steady pace, showing strong market demand even in typically slower periods.”
He said: “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.
“If you’re thinking of buying or selling a property in Edinburgh, the Lothians, Fife, or the Borders, contact your local ESPC solicitor estate agent today.”
