The Scottish property market demonstrated continued resilience during the traditionally quieter autumn and winter months, according to the latest ESPC House Price Report.

The average selling price across Edinburgh, the Lothians, Fife, and the Borders increased by 5.8% year-on-year to £286,017 between October and December 2024.

"This significant annual increase clearly indicates healthy demand in the market," the ESPC said.

Key findings of the report include:

• Price Growth: West Fife & Kinross saw the most substantial price growth at 17.5%, while Edinburgh's North West and city centre experienced significant increases.

• Premium Paid: Buyers generally paid a smaller premium than in previous quarters, although some areas, particularly in Edinburgh, saw strong competition.

• Increased Activity: Sales volumes rose by 25.1% annually, while property listings increased by 4.4%, indicating a buoyant market.

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• Selling Times: The median selling time decreased to 21 days, reflecting strong demand from buyers.

The ESB report continued: "While the amount buyers paid over the Home Report valuation has slightly declined, the market remains active. The increase in property listings and sales volumes suggests continued confidence from both buyers and sellers."

The report highlighted significant demand in specific areas, such as Dunfermline, Leith, and Corstorphine, with some properties selling significantly above their Home Report valuation.

Commenting on the report, ESPC CEO, Paul Hilton, said: "The final three months of 2024 saw the year end on a positive note for the housing market, with incredibly healthy levels of activity across the board. We've seen everything from rising property prices to decreasing sales times, and generous increases in the volumes of both property listings and property sales – all key indicators of a buoyant market.

"Once again, Dunfermline and the East of Edinburgh both appear to offer the strongest appeal for buyers, with extremely active markets in both of these locations. It's also especially interesting to note the increasing property prices and demand for homes in neighbourhoods of Edinburgh that offer access to highly-rated state schooling; we did predict that this may be the case in 2025 but it appears we may be seeing this beginning already, with families keen to secure homes close to good state schooling ahead of private school VAT increases coming into force.

"If you're thinking of buying or selling a home in Edinburgh, the Lothians, Fife or the Borders, contact your local ESPC solicitor estate agent for the most up-to-date information and local market insights."