The property market across the UK right now is soaring to new highs and it's not just the Scottish capital that's seeing this sharp rise.
Many first-time buyers trying to climb the property ladder are struggling with the Scottish 'overs offer' system resulting in many being being outbid by those who have just sold their old home for a decent profit.
However housing experts have said that prices in the Capital are rising and are continuing to do so making it harder to save up for your dream home.
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Discussing the soaring prices, Rightmove have said that properties in Edinburgh over the last year were six per cent up on the previous year and 26 per cent down on the 2007 peak of £438,534.
More experts have said the same about the rising numbers with ESPC stating despite this, there are a lot of reasons to chose to live in the Capital as it has everything you need from an "exciting culture, beautiful architecture, unbeatable shopping (both high street and independent), highly-regarded universities, a plethora of restaurants, an exciting zoo, and a wide variety of housing styles."
They add: "If you ever want to escape the buzz of the city however, you're also never far from beautiful Scottish scenery. Edinburgh is nestled on the shores of the Firth of Forth and is surrounded by seven hills: Calton Hill, Corstorphine Hill, Craiglockhart Hill, the Braid Hills, Blackford Hill and Arthur’s Seat. You're also only a short drive (or train ride) away from the Scottish Borders and Fife is accessible via The Queensferry Crossing and Forth Road Bridge."
According to ESPC, the average selling price in Edinburgh currently stands at £295,187. In addition to this, the average selling time is just 15 days from when it's put on the market.
The property experts also revealed that the most common type of property purchased is a two bed flat.
But what do these facts and figures look like for each area of the Capital?
Edinburgh City Centre
Average selling price: £353,751
Average time to sell: 22 days
Most popular property type: Two bedroom flat
Edinburgh South West
Average selling price: £316,061
Average time to sell: 15 days
Most popular property type: Two bedroom house
Edinburgh North West
Average selling price: £282,751
Average time to sell: 12 days
Most popular property type: Three bedroom house
Edinburgh North
Average selling price: £313,078
Average time to sell: 13 days
Most popular property type: Two bedroom flat
Edinburgh East
Average selling price: £257,077
Average time to sell: 14 days
Most popular property type: Two bedroom flat
Edinburgh South
Average selling price: £338,952
Average time to sell: 16 days
Most popular property type: Two bedroom flat
Edinburgh West
Average selling price: £201,482
Average time to sell: 17 days
Most popular property type: Two bedroom flat
Figures relate to the 3 month period ending on 31/05/2022
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