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Average property price continues to rise in Scotland

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Scotland’s property market is beginning to return to pre-pandemic levels of activity, according to a new report, as property prices continue to rise and people are paying overvaluation to secure their homes. Leading property marketing portal ESPC has released its February House Price Report which gives a detailed insight into the property market over the past three months in Edinburgh, the Lothians, Fife, and the Borders. The average property selling price across the regions included in the report rose 2.6% annually to £271,493 during December 2021-February 2022. Paul Hilton, CEO of ESPC, said: “The three months of December-February have shown a continuation of activity across the property market in Edinburgh, the Lothians, Fife and the Borders. We're seeing clear evidence that the market is beginning to return to pre-pandemic levels of activity.” However, Mr Hilton added that “Fewer properties are coming onto the market, which will be impacting buyer behaviour. With many sellers choosing to find a new home before listing their property for sale, there are fewer homes coming onto the market, heightening competition across the board and giving buyers less options to choose from.”

The Scotsman

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