East Lothian house prices increase by 4.2 per cent

HOUSE prices in East Lothian are on the increase, according the latest figures from ESPC.

Between June and September, prices in East Lothian increased by 4.2 per cent to an average of £210,181 against the same period last year.

At the same time just over one fifth (20.6 per cent) of all sales across East Lothian are achieving the Home Report valuation.

Properties sold across east central Scotland as a whole, between June and September, were secured for an average of 4.2 per cent below valuation.

Commenting on the latest report, David Marshall, business analyst with ESPC said: “House prices in East Lothian are up by 4.2% compared to this time last year, however the market remains volatile due to lower sales volumes.

“Where we see sharper rises or falls, these tend to be offsetting similar market volatility in the opposite direction a year ago, then sales saw a 10.6 per cent drop to £201,710 across the region.

“We are still seeing an imbalance with the number of properties available for sale continuing to exceed ‘normal’ market levels, leaving buyers again in a position of relative strength to negotiate a sale.”