The Savills Blog

The sun is shining on the East Lothian housing market

Northfield House, Prestonpans, East Lothian

With more than 40 miles of glorious coastline and one of the sunniest climates in Scotland, East Lothian outperformed all other Scottish regions in terms of residential sales last year. And with this year's spring and early summer market now well underway, it looks as though this trend is continuing.

Well-presented and realistically priced houses in the coastal villages of Gullane, Longniddry and North Berwick are in high demand from young families lured by the prospect of a healthy and stimulating quality of life, with the well-regarded North Berwick High School a draw for many. The fact that these are all easily commutable by train to Edinburgh add to their appeal, especially at a time when competition is fierce for houses in the capital.

The villages of East Linton, Gifford, East Saltoun, Pencaitland, Tranent and Humbie are within easy reach of both the coast and the Lammermuir hills and are also commutable to Edinburgh. In addition to its regular train service, the region boasts no less than 30 golf courses, an array of independent shops, bars, restaurants, a multitude of glorious walks along sandy beaches, woodlands and hills, all which combine to make East Lothian a magnet for homebuyers and visitors alike.

Over the last 12 months we’ve seen a significant increase in buyers from south of the border or further afield. Indeed 38 per cent of our properties sold to those from outside Scotland.

Different price brackets are performing in different ways. The local market in the £300,000 to £500,000 price range has been less affected by increased property tax in the form of LBTT and has been consistently strong. The £500,000 to £750,000 range has also performed well. The market above £750,000 has been slower to recover, but we’re now seeing a remarkable uplift: the region was second to Edinburgh in the number of £1 million plus sales by region in Scotland.

Alongside sales growth, house prices in East Lothian in December last year reached their highest level for the same month in more than 10 years. The average house price (at £230,419 during the 12 months ending March 2018) is currently 11 per cent per cent higher than the 10-year average.

The East Lothian market is being driven not only by a healthy established homes market, but also a growing new build market. Last year witnessed just under 500 private homes built in East Lothian, which was 51 per cent higher than the number the year before.

 

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