Property Market Highlights
- All top 10 fastest moving property markets found in Scotland
- Average selling price across key Scottish markets rose 4.9% year-on-year, hitting £290,259
- On average, properties sold for 102.2% of Home Report valuation at sale
- Scotland was named home to four of the top locations in the UK for raising a family
All Top 10 Fastest Moving Property Markets Found in Scotland
According to an article published in The Herald this month, Scotland’s property market is leading the way as the fastest-moving in the UK, offering opportunities for both buyers and sellers alike. Reporting on recent data from Rightmove, every single one of the UK’s top ten property hotspots is located north of the border. Buyers are snapping up homes in record time, with the areas surrounding Glasgow taking the spotlight for the quickest sales.
Carluke in Lanarkshire tops the list, with the average property finding a buyer in just 15 days. Giffnock and Uddingston, both near central Glasgow, aren’t far behind, with homes selling in 16 and 17 days, respectively. This rapid pace is a stark contrast to the 33-day average across Scotland and the 60-day average for the whole of Great Britain, making it an excellent time to be part of Scotland’s thriving market – whether you’re looking to buy or sell.
Average Selling Price Across Key Scottish Markets Rose 4.9% Year-on-Year, Hitting £290,259
According to ESPC’s latest findings, the property market across Edinburgh, the Lothians, Fife, and the Borders experienced a substantial boost, with the average selling price increasing by 4.9% from July to September 2024 – bringing the new average to £290,259. This steady rise signals great news for both buyers and sellers and highlights the stability of the nation’s key local markets.
In Edinburgh, prices rose by 4.7%, with the average property reaching £307,850, reaffirming the capital’s reputation as a highly sought-after location. Meanwhile, the southside remained the city’s most desirable area, where homes averaged £366,241 – reflecting a 9.7% rise from the previous year. The city centre also saw a significant jump, with prices up by 14.1%, pushing the average to £349,278.
West Fife remained a more affordable yet appealing option outside the capital, with average prices at £229,635 despite a 5.8% increase. The Borders also saw an impressive 8% rise, bringing the average to £240,052. In Dunfermline, a 9.2% increase brought prices to £218,503, yet it remains one of Scotland’s most affordable areas. First-time buyers, in particular, can find great deals here, with one-bedroom flats selling for an average of £98,150 – making Dunfermline an attractive option for those trying to get their foot on the ladder.
On Average, Properties Sold for 102.2% of Home Report Valuation
Properties across Edinburgh, the Lothians, Fife, and the Borders achieved an impressive 102.2% of their Home Report valuation from July to September despite being slightly down from last year. This dip of just 1.2 percentage points reflects a healthy increase in the number of homes available, offering buyers more choice and reducing the need to bid above asking prices. It’s a win-win, with sellers still securing strong offers and buyers feeling less pressure to overspend.
Zooming in on local areas now, ESPC reports that West Fife and Kinross saw buyers paying the highest premiums, with offers averaging 103.2% of Home Report values – nearly identical to last year’s figures. Meanwhile, savvy buyers in the Scottish Borders were able to purchase properties at 100% of their valuation, a fantastic opportunity, as prices were two percentage points lower than the previous year. In Edinburgh, the ever-popular eastern districts, including Leith, Abbeyhill, and Portobello, continued to attract competitive offers, with buyers paying 103.1% of the Home Report valuation – just 0.6 percentage points below last year, showcasing the sustained demand in these trendy neighbourhoods.
Scotland Named Home to Four of the Top Locations in the UK for Raising a Family
The Daily Record reported on a recent study by moving platform Getamover, revealing that Scotland is home to four of the top ten locations in the UK for young families. The researchers evaluated key factors like average house prices, crime rates, and access to parks and libraries, ranking areas based on their family-friendliness.
East Ayrshire earned a solid third place with a score of 69.1 out of 100 – 33% above the national average. Here, first-time buyers can expect to pay around £104,630 for a home while enjoying crime rates 34% below the national average. North Lanarkshire followed in seventh place, scoring 67.4. With more than a quarter of the population aged 18-35, it’s dubbed an excellent spot for young parents to build a supportive community.
Ninth-placed North Ayrshire offers affordability, too, with an average first-home price of just £108,388, while its 66.7 score reflects the area’s appeal. Finally, the Outer Hebrides rounded out Scotland’s top entries, scoring 66.6 thanks to low crime rates and some of the UK’s most affordable homes. For those seeking a peaceful, budget-friendly family life, Scotland is proving to be a fantastic option.
The best areas in the UK to raise a family
- Burnley – 71.9
- Stoke-on-Trent – 70.3
- East Ayrshire – 69.1
- Pendle – 68.8
- Hyndburn – 68.4
- Blackburn with Darwen – 67.5
- North Lanarkshire – 67.4
- Hartlepool – 66.8
- North Ayrshire – 66.7
- Outer Hebrides – 66.6
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