Average housing costs in Edinburgh are £325k

EDINBURGH: The average house price in Edinburgh has reached £325,000 and demand is still high despite the ongoing economic unpredictability. (Reported by news source)

In anticipation of a more stable market in 2023 that would be more advantageous for buyers and sellers, Lindsays has reported an increase in the average price of the properties it sold year over year.

Homes sold by Lindsays' Edinburgh branch in 2022 cost an average of £325,000. This contrasts with £316,000 in 2021, a 2.8% increase.

Although they also included the larger Lothian districts, their sales were primarily in and around the city.

The average price in Dundee, according to Lindsays' city-based estate firm, was £204,000 in 2022; this is the first time the average price has topped £200,000. This is an increase of 13% from £180,000 in 2021.

However, they do believe that the market changed from being strongly skewed toward sellers to being more balanced as a result of the cost-of-living crisis and the interest rate hike brought on by Kwasi Kwarteng's mini-budget in September.