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High demand drives up property prices in East Central belt

There is good news for property sellers in Eastern Central Belt towns and cities this quarter, as the price of property in the region rose by around 6.2%. This figure applies to the period from July to September this year, and demonstrates an increase when compared to the same period in 2017.

While one might expect the majority of this growth to be concentrated within Edinburgh, it is surprising to see how wide-spread this growth is – with towns such as Dunfermline and Livingston have also seen drastic increases in the value of property. Properties in Dunfermline have increased by a dramatic 15.8%. Over in West Lothian, the average house price is now £214,946, which is a 13.6% increase on last year.

Of course, Edinburgh has benefitted greatly from the recent increasing demand from buyers. In up-and-coming areas such as Leith, the Shore and Granton, property prices have increased by a shocking 19.1%. This means that an average two-bedroom flat in Leith could now set buyers back £204,242.

So why is East Central Scotland experiencing this hike in demand from buyers? Perhaps it is linked to the rise of one of its formerly struggling areas; Leith. Leith is gaining international recognition as a magnet for young professionals, as Time Out magazine named it as one of the ‘coolest neighbourhoods in the world’. Homeowners throughout the East Central Belt will no doubt be hoping that this growth trend continues as Brexit looms.