This significant annual rise highlights strong demand in the Scottish housing market, continuing a positive trend in what are typically slower months for buying and selling property.

The majority of areas covered in ESPC’s latest House Price Report saw an increase in the average selling price of properties. West Fife & Kinross experienced one of the highest annual rises in average selling price, increasing from £214, 918 to £229,263, which is a rise of 6.7 per cent year-on-year. In the capital, selling prices saw decent growth, rising by six per cent to an average of £305,825.

It was a mixed bag of results for the Lothians, where West Lothian rose by four per cent to £263,751. Midlothian saw its average selling price rise to £264,132, an increase of 2.5 per cent year-on-year, while East Lothian’s average dropped by 1.9 per cent to £263,153. In the Scottish Borders, property prices climbed by 2.5 per cent to an average selling price of £232,809.

Highlighting its strong and steady performance, Edinburgh North West continued to see a notable increase in average selling prices. Outperforming the other areas of the capital, Edinburgh North West (including South Queensferry, Kirkliston and Ratho) experienced an annual rise of 17.7 per cent, resulting in an average selling price of £307,295. On closer inspection, this was driven by a higher volume of higher value homes selling in the Kirkliston area.

Both Edinburgh City Centre (including Old Town, New Town, Stockbridge and Tollcross) and Edinburgh North (including Murrayfield, Corstorphine, Barnton and Blackhall) recorded double figure increases in the average selling price, with rises of 14.7 per cent and 11.1 per cent respectively. In the city centre, the charming neighbouring of Comely Bank saw a considerable increase of 31.5 per cent, with an average selling price of £371,493. Blackhall, in the north of the capital had an average selling price of £559,734, which is an increase of 42.6 per cent year-on-year, predominantly made up of an increase in 3 and 4 bed house sales.

CEO Paul Hilton commented: “Market stability is reflected in buyers continuing to pay above Home Report valuations, especially in sought-after locations. While selling times have slowed slightly compared to previous months, key areas are still moving quickly, with smaller properties remaining in high demand.”

“Sales volumes have risen substantially, even as the number of new listings has dipped. This suggests increased competition among buyers, keeping the market buoyant. Some areas are seeing a strong influx of new properties, helping to maintain buyer choice, but overall, stock remains tight.”

“Looking ahead, the market remains competitive, with strong demand and steady price growth. For sellers, conditions remain favourable, while buyers must act decisively, particularly in high-demand areas. ESPC continues to see a dynamic and active market, with positive momentum as we move further into 2025.”