The average price of detached homes in Edinburgh has risen by over £1,000 a week over the past year.
Between March 2023 and February 2024 the average price of a detached home in Edinburgh increased from £669,667 to £722,367, which represents a rise of £52,700 in 12 months.
Lettings and estate agent DJ Alexander brought attention to the substantial rate in which prices have risen in Scotland’s capital.
David Alexander, its chief executive officer, said: “Every time these figures are published you do wonder how prices could continue to rise at such a phenomenal rate but here, we are once again with the cost of buying a detached house in Edinburgh increasing by over £1,000 per week for an entire year.
“These numbers are testament to the large numbers of people in Scotland who want a detached home and want to live in our major cities and their immediate surrounding areas. The interesting shift is away from remote and rural properties back to large urban and suburban areas.
“The move to the country which occurred during COVID appears to be reversing and in many of the areas away from the central belt we can see a static or, in two areas, an actual fall in average prices. I would anticipate this trend continuing in the coming months and the city market remaining strong but perhaps not as buoyant as the last year.”
The capital was closely followed by Midlothian, where average detached prices rose by £51,520, and Glasgow, which increased by £47,272 over the year.
The Scottish average was £18,458, with price increases in all areas except Argyll and Bute, which fell £113, as well as Aberdeenshire, where there was a fall of £924.
Average detached house price increases between 03/2023 and 02/24
Location 03/23 02/24 Difference
Edinburgh £669,667 £722,367 £52,700
Midlothian £408,264 £459,784 £51,520
Glasgow £403,627 £450,899 £47,272
East Lothian £508,105 £547,756 £39,651
West Lothian £351,269 £386,634 £35,365
Renfrewshire £293,956 £327,915 £33,959
Dundee £285,983 £311,384 £25,401
Falkirk £293,132 £318,114 £24,982
South Lanarkshire £301,165 £326,122 £24,957
South Ayrshire £283,204 £307,554 £24,350
Perth and Kinross £352,507 £375,855 £23,348
West Dunbartonshire £271,630 £293,786 £22,156
East Ayrshire £220,845 £242,906 £22,061
Stirling £405,347 £427,378 £22,031
East Renfrewshire £495,141 £516,734 £21,593
East Dunbartonshire £453,890 £474,803 £20,913
Clackmannanshire £283,955 £303,931 £19,976
Scotland £319,975 £338,433 £18,458
North Lanarkshire £259,645 £277,275 £17,630
Angus £260,885 £276,280 £15,395
Aberdeen £296,800 £311,933 £15,133
Moray £277,781 £290,695 £12,914
North Ayrshire £228,617 £241,268 £12,651
Dumfries and Galloway £233,013 £241,448 £8,435
Borders £328,256 £336,424 £8,168
Highland £303,397 £309,892 £6,495
Fife £300,444 £305,079 £4,635
Argyll and Bute £298,509 £298,396 -£113
Aberdeenshire £281,737 £280,813 -£924
