News & EventsWho? What? Where? Why? Read all about it here!

Get the Latest


BLOG - Property Market Update

Property prices across Scotland have risen to their highest level since 2003 - Property Sales Director Karen Turner comments.

Karen Turner,

Property Sales Director, comments on the latest statistics from the Registers of Scotland.

Recent statistics from the Registers of Scotland show that property prices in Edinburgh grew 5.6% year on year, while prices in Fife increased 4.6%. The average change across Scotland was 5.2% growth.

In Edinburgh this equates to an average selling price of £235,402 (Jul-Sept 2014) and £143,075 in Fife as a whole. However, North East Fife in particular is producing a higher average selling price than most other areas of Fife. Edinburgh still remains popular and again this average price is across the geographic area. Certain areas and house types will always outperform the market average.

In Edinburgh the market has remained reasonably buoyant and we have seen traditional family homes in the suburbs continue to perform well.  In Fife too we’ve seen strong performances from areas such as St Andrews in particular, where the buy to let market has continued to grow in the last quarter.

Property development has also picked up again - an encouraging sign of market recovery. More developers are now consulting on proposed sites in both Edinburgh and Fife, a good sign of recovering confidence from the new build sector.

Mortgage lending is becoming more attractive but still with stringent criteria having to be met by borrowers.

In the coming months we anticipate that these sales averages will increase further, as more sellers with properties valued above £325,000 will try to get their properties on the market ahead of the Government’s proposed Land and Buildings Transaction Tax (LBTT), due to come into force in April. This tax will raise the duty paid by purchasers of properties above the £325,000 mark, and reduce it on those properties falling below this threshold. Subsequently we also expect the number of sales in the £125,000-£135,000 range to fall until after April, as buyers look to avoid paying the extra tax.

This combined activity may cause a spike in growth averages, however this should even out again once the new LBTT has bedded in. While growth in the property market is a good sign, no one wants a return to the break neck price inflation of pre-2008. That’s why all reputable estate agents should offer honest and accurate home valuations that do not bloat the market, and advise purchasers to offer only what they are comfortably able to repay.”


Not sure where to start? Why not just give us a call today on
0131 624 6820 for Edinburgh or 01334 475001 for Fife to discuss your needs.

All fields marked with * are needed


Want to work with a local, friendly company? Then find your nearest Pagan Osborne office to you below. However, we also work with clients throughout the UK so you can call any of our numbers and our helpful reception staff will be happy to forward on your call to the most appropriate expert to suit your needs.

Clarendon House
116 George Street
EH2 4LH Call Us
Tel: 0131 624 6820
Fax: 0131 220 1612
2 Comiston Road
EH10 5QE Call Us
Tel: 0131 539 3333
Fax: 0131 538 7204
St Andrews
106 South Street
St Andrews
KY16 9QD Call Us
Tel: 01334 475001
Fax: 01334 476322
12 St Catherine Street
KY15 4HH Call Us
Tel: 01334 653777
Fax: 01334 655063
1 Crossgate
KY15 5HA Call Us
Tel: 01334 656525
Fax: 01334 654119
Pagan Osborne
5a Shore Street
KY10 3EA Call Us
Tel: 01333 310703
Fax: 01333 311918


Got a question? Fill in your details below and we'll give you
a call back on the date and time you have chosen.