East Lothian house prices continue to rise, with Gullane named in a new survey as Scotland’s most expensive village to purchase a property.
The report, conducted by Rettie & Co, indicates that the East Lothian residential property market remains buoyant in comparison to the national picture, with average house prices rising 4.3% year-on-year against a 0.5% fall across Scotland as a whole.
The average East Lothian house price is now £319,000 and, while the number of annual sales nationwide has decreased by 8.3%, East Lothian sale activity has remained largely the same year-on-year, falling by only 0.1%.
The research also reveals that Gullane is now the most expensive village in Scotland, with an average house price of £614,000.
Andrew Smith, director of country house sales at Rettie & Co, said: “In a challenging national market where house prices are stagnating and the volume of sales falling, it’s been immensely encouraging to see the East Lothian market not only holding up, but actually showing a steady rise in sales values.”
He added: “Of course, one of the alluring qualities of East Lothian is the range of lifestyle options within the regions, and it’s these unique lifestyle opportunities that have been key to the continuing demand in the local market.”
Rettie & Co say that East Lothian, known as Scotland’s Golf Coast because of its 21 golf courses along 30 miles of coastline, was well placed to “buck” current property trends.
A spokesperson added: “The Golf Coast is one of the most desirable residential regions of Scotland. Its lifestyle, amenity and prestige has ensured that property demand has remained strong, and prices buoyant, despite the wider economic headwinds.
“With such an array of attractive options, it’s hardly surprising that East Lothian continues to buck the trends seen elsewhere in the Scottish market.”
