EAST Lothian has had the biggest house price growth in all of the Lothians and has outperformed Fife and the Borders too, according to property portal ESPC.

The group’s research found that, during the three months to November this year, the average property selling price across all of the regions rose 1.6 per cent year-on-year to £271,587.

But homes in East Lothian had the biggest annual increase – achieving, in total, 8.7 per cent growth – taking the average selling price for the county to £290,231.

With fewer available properties for sale, competition for homes in North Berwick remains strong.

The average selling price for property there rose 21 per cent year-on-year to a new average of £491,157 – the highest in East Lothian. The median selling time reduced by eight days, with properties going under offer in 17 days, down from 25 in 2020.

The average selling price for Wallyford homes rose to £225,041, an increase of 15.7 per cent year-on-year; in Musselburgh, however, the average selling price was slightly down, to a new average of £217,935 – but this decline of just 0.2 per cent meant that prices were only affected by about £500.

The average selling price for Prestonpans homes rose by 12.6 per cent to £207,007, but the area remained one of the most affordable in East Lothian. Properties here went under offer in a median time of 11 days, down from 13 days in September-November 2020.

The average selling price in Haddington rose 9.3 per cent to £239,906, while the median selling time saw a 22-day drop, meaning homes sold in just 14 days during this time, down from 36 days in 2020.

The average selling price of Dunbar properties rose to £295,578 during September-November, up 9.2 per cent year-on-year, while Tranent saw East Lothian’s biggest drop in average selling price, down 4.7 per cent on last year’s figures, with a new average of £207,401. Homes here sold four days faster than in 2020, with a median selling time of 11 days.

Figures are, however, showing a slowing of activity across the county, as the market follows the traditional pattern of cooling towards the end of the year.

Sales volumes in the region decreased 30.9 per cent per cent year-on-year during this time, as fewer buyers came to the market, while new properties listed for sale also reduced by 15.4 per cent.

North Berwick saw a staggering 46.5 per cent reduction in the volume of sales in September-November, with a 25 per cent decline in homes for sale, as sellers were reluctant to move on.

Haddington sales volumes were also down by a huge 44.9 per cent year-on-year during September-November 2021, though this was not a reflection of interest by buyers.

Sales volumes in Tranent were down 34 per cent year-on-year during September-November, while the volume of properties coming to the market rose by 31 per cent.

Wallyford saw its sales volume decrease during September-November by slightly more than the region average, at 33.3 per cent, while the volume of properties being listed for sale increased by 22.2 per cent year-on-year. This suggests a higher level of seller activity than buyer activity and may affect how competitive the market is in this area.

Sales volumes were down by 31.4 per cent year-on-year in the Prestonpans area.

Sales volumes in Dunbar during September-November were down 23.4 per cent year-on-year, but this followed a high level of activity late in 2020 and early in 2021.

In Musselburgh, however, property sales volumes reduced by only 16.5 per cent, and homes sold one day faster than during the same time in 2020, with a median selling time of 13 days.

Buyers in East Lothian also paid the most over Home Report valuation for properties, at 111 per cent of the valuation price, compared to an average across the regions of buyers paying 107 per cent of Home Report valuation.

Buyers in Dunbar paid 117.2 per cent of Home Report valuation for properties – more than anywhere else in East Lothian, showing how strong demand has been for this area. During this time, the median selling time in Dunbar reduced by eight days, to just 11 days.

North Berwick properties also attained a higher percentage of their Home Report valuation, with buyers paying 114.8 per cent of valuation on average to secure their chosen homes.

Musselburgh buyers paid on average 108.4 per cent of Home Report valuation for properties, up from the 104 per cent paid in September-November 2020.

Wallyford buyers paid 109 per cent on average of the Home Report valuation for homes in this area, an increase of 4.8 per cent on what was paid in 2020. The median selling time for property in Wallyford also reduced, with homes selling four days faster than they did during September-November 2020, at just nine days.

The average amount paid over Home Report valuation in Haddington also rose – buyers here paid 109.6 per cent of Home Report valuation during September-November, up from 101.2 per cent in the same time in 2020; while Prestonpans buyers paid 108 per cent of Home Report valuation on average – a rise of 5.2 per cent when compared to the same time last year.

Tranent buyers paid the least over Home Report valuations in East Lothian, at 106.4 per cent on average, an increase of 2.4 per cent on last year.

Paul Hilton, CEO of ESPC, said: “East Lothian has reported consistently strong levels of activity throughout 2021, with many buyers keen to find a home that offers them a blend of both indoor and outdoor space, and proximity to city, coast and countryside.

“With a host of new priorities for many buyers, it’s no surprise to see the popular postcodes of East Lothian become even more coveted during this past year.

“Competition remains high for properties but we are beginning to see both sales and insertion volumes taper off as the year draws to a close, as we would expect at this time of year.”