Latest prices in East Lothian for Terraced properties
The latest figures show that the average price for a Terraced property in East Lothian has now reached £248,659 as of Feb 2024. This value is based upon the average value of completed property transactions in the month of February.
Average prices for a Terraced property have increased substantially over the longer term in East Lothian. Back in January 2004, prices for this type of property averaged £80,089 based on sales at the time. Fast forward to January 2024, and averages reached £253,720 - representing a growth of 217% over 20 years.
This substantial triple-digit percentage rise in Terraced property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Terraced homes in East Lothian over the past 2 decades.
Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.
The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. Properties have been included in England and Wales since January 1995, in Scotland since January 2004, and in Northern Ireland since January 2005, Data is available at a national and regional level, as well as counties, local authorities and London boroughs.
Terraced prices in East Lothian over the last 12 months
Date
Price
Apr 2023
£267,798
May 2023
£271,777
Jun 2023
£270,905
Jul 2023
£272,879
Aug 2023
£269,583
Sep 2023
£274,183
Oct 2023
£274,697
Nov 2023
£249,822
Dec 2023
£249,290
Jan 2024
£253,720
Jan 2024
£253,720
Feb 2024
£248,659
Recent trends for prices in East Lothian
The latest figures from February 2024 indicate the property market in East Lothian continues to show falling price trends. Compared to January, 2024, average prices decreased by -1.4% to £301,644. On an annual basis, average property prices have increased 7.5% since 12 months ago.
In terms of sales activity, there were 183 residential property transactions completed in East Lothian during February, 2024. Of these purchases, 132 were financed with a mortgage while 51 were all-cash sales. For cash buyers, average prices have changed by -1.7% since January, 2024, coming in at around £283,321. For properties purchased with a mortgage, the average price changed by -1.2% since January, 2024, to £310,194.
Compared to the overall picture in its national parent Scotland, the average property price in East Lothian are higher than the current national average of £187,807. While East Lothian saw a change of -1.4% over the last month, Scotland as a whole recorded a percentage change of -0.6% in average property values. And on an annual basis, prices across Scotland have grown by 5.6%, less than the 7.5% yearly change seen in East Lothian.
Interested in purchasing a property in East Lothian? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in East Lothian by housing type
Prices last recorded in February, 2024
average
£301,644
detached
£547,756
flat
£180,813
semi-detached
£314,276
terraced
£248,659
Prices by housing type in East Lothian
Recent data shows that price growth has varied across different property types in East Lothian over the last year. For terraced houses, property prices changed by -1.5% between February 2024 and January 2024 to reach £248,659, and changed by 7.3% over the last 12 months. The annual change was less than the 4.7% change seen for terraced homes in Scotland overall.
Meanwhile, semi-detached properties saw a fall in average prices locally, taking them to £314,276 in January 2024. This represents a -1.1% change from the same month last year.This is outperforming the 6.4% annual change in semi-detached values across the country.
Detached homes in East Lothian lost -0.8% month-over-month to reach an average of £547,756. Annually, detached property values have changed by 10.1%. This is stronger price growth compared to Scotland's 7.3% change for detached houses over the year.
For apartments and flats, average prices decreased by -2% between February and January 2024, hitting £180,813. Over the last 12 months, apartment values have changed by 3.5%, lagging Scotland's flat and apartment growth rate of 4.7%.
Overall, semi-detached properties have seen the strongest price momentum locally over the past year, with a change of 10.3%, while flat properties lagged, with a change of 3.5%.
Recent purchases in East Lothian
According to data from HM Land Registry, there were 183 completed property purchases in the area of East Lothian in February 2024. Of these sales, 51 were recorded as cash purchases whilst 132 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by 8.1% and the percentage of properties purchased with cash has changed by 6.1%.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in east-lothian.
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