In the capital, the property type which saw the greatest year-on-year increase in average selling price was three bedroom houses in Blackhall, Davidsons Mains, Silverknowes, Barnton, Cramond and Cammo, rising by 12.6 per cent to £436,398. Two-bedroom flats in Portobello and Joppa saw a 12 per cent year-on-year increase in average selling price.

There was also a significant increase in the average selling price of Midlothian properties, rising by 9.2 per cent to £218,506. Meanwhile, prices dipped by 15.7 per cent in West Lothian, dropping to £189,310. This is due to a greater proportion of higher value homes sold in the area last year. In the Scottish Borders, the average selling price fell by 11.7 per cent to £210,169. This is also due to a greater proportion of higher value properties being sold last year.

Across Edinburgh, the Lothians, Fife and the Borders, the sales volume over these three months was 0.7 per cent higher than last year, and 0.4 per cent higher in Edinburgh specifically. This is a much less marked increase than from May to July 2019, due to a slowdown in sales in August specifically. This is likely due to a decreasing number of properties coming to market in recent months. Over the past three months, the number of properties coming to market across all areas decreased by 6.4 per cent and by 5.4 per cent in Edinburgh.

The median selling time in Edinburgh, the Lothians, Fife and the Borders was 21 days, three days slower than last year. In Edinburgh, the median selling time was 19 days, also three days slower than last year. One bedroom flats in Leith Walk, Easter Road, Pilrig and Bonnington, and two bedroom flats in Portobello and Joppa, boasted the shortest median selling time at 13 days.

Across Edinburgh, the Lothians, Fife and the Borders over the past three months, the average percentage of home report valuation achieved was 103.5 per cent compared to 105 per cent last year. In Edinburgh, it was 105 per cent compared to 106.9 per cent last year. One bedroom flats in Dalry, Gorgie, Slateford and Chesser achieved the highest average percentage of home report valuation at 108.5 per cent.

The property type with the greatest sales volume over the past three months was three bedroom houses in Dunfermline, followed closely by one and two bedroom flats in Leith.

Jamie Fraser-Davidson, business analyst at ESPC, said: “The summer months have shown further increases in average selling prices in Edinburgh, as well as many of the surrounding areas. This suggests demand for property is relatively strong amidst fewer properties coming to market.

“There still appears to be strong competition for small flats in popular first time buyer areas close to the city, with these property types achieving short selling times and tending to well-exceed home report valuation on average.

“Over the summer months, three bedroom houses in Dunfermline have taken over as the property type with the greatest sales volume. This indicates strong demand for family homes in the Fife town.”