As East Lothian locals know, the area is well known for having its own unique microclimate. Rain may be settled over the capital, but a short drive east will often reveal blue skies and a warm breeze. This happy distinction is also true of the East Lothian housing market.
In a challenging national market where house prices are stagnating and the volume of sales falling, it’s been immensely encouraging to see the East Lothian market not only holding up, but actually showing a steady rise in sales values.
Of course, one of the alluring qualities of East Lothian is the range of lifestyle options within the region. As we explore in this briefing, it’s these unique lifestyle opportunities that have been key to the continuing demand in the local market. Indeed, the latest average house price figure for East Lothian is up 4.3% on the last year, in stark contrast to the 0.5% fall seen across Scotland as a whole.
If you want to take advantage of this encouraging local property climate, we’re always here to help. For a free no obligation market appraisal of your property and to take advantage of our unique local knowledge, please contact me directly.
Prices remain high
Average house prices in East Lothian have risen 4.3% year-on-year, in contrast to the -0.5% fall across Scotland as a whole.
Demand stays strong
Demand in East Lothian has stayed strong,with competitive closing dates and offers over Home Report still common.
A highly desirable location
East Lothian has some of the most desirable towns and villages in Scotland, with average house prices in Gullane revealing it is now the most expensive village in Scotland.
Prices Remain High
Despite the challenges facing the national market, the East Lothian housing market remains robust and in demand.
Demand Stays Strong
This positive picture is also reflected in the level of activity in the market. While the number of sales registered in the year to date has fallen nationally by -8.3%, East Lothian has seen sales activity remain the same year-on-year. A number of our sales in the region continue to deliver very competitive closing dates and offers well above Home Report for the most desirable properties.
A Highly Desirable Location
One of the alluring qualities of East Lothian is the range of lifestyle options within the region. From beaches in the north, to the Lammermuir Hills in the south and the rolling farmland and historic villages in between, the region is packed full of charm and opportunity. These unique lifestyle opportunities have been key to the continuing demand in the local market.
The East Lothian Golf Coast
The Golf Coast is one of the most desirable residential regions of Scotland. Its lifestyle, amenity and prestige has ensured that property demand has remained strong, and prices buoyant, despite the wider economic headwinds.
With such an array of attractive options, it’s hardly surprising that East Lothian continues to buck the trends seen elsewhere in the Scottish market.
Your Questions Answered
- How are values locally looking in terms of square footage?
Both Gullane and North Berwick are showing average prices of over £400 per square foot over the last 12 months, with Gifford and East Linton each at £350 per square foot or better. This compares with the Scottish average of approximately £208 per square foot over the same period.
- What's the secret behind East Lothian bucking the current property market trend?
While a number of factors are in play, the fact that the region offers the advantage of proximity to Scotland’s capital while being able to offer a highly desirable lifestyle of beaches, golf courses, woods, villages and hills has ensured demand remains high and house prices buoyant.