Research article

Key Points

Edinburgh at a glance.

■ The Edinburgh market remains strong.

■ Supply remains low despite considerable demand from a population which is forecast to grow by over 2,000 households per year between 2012 and 2035.

■ Residential developments in Edinburgh are commanding significant premiums.

■ The regeneration of Edinburgh’s waterfront areas has gained momentum, and expansion continues with the possible tram extension.

Figure 1

FIGURE 1Levels of starts and completions

Source: Savills Research

Edinburgh Town/City Centre

The traditional heart of Edinburgh, including the areas of the Old Town, New Town, Stockbridge, West End and Canonmills.

■ Developments are typically small, averaging 15 units, and are predominately conversions.

■ On average these developments launched seven months ago, and have achieved a rate of sale of two per month.

■ The average unit size for flats was 1106 sq ft, which is above the city average of 950, due to the nature of conversion accommodation.

■ Likewise prices per sq ft for flats ranged between £360 to £440, compared to an average of £294 across the city.

↑ THE APARTMENTS, KINNEAR ROAD, QUEENSBERRY PROPERTIES. An exclusive collection of luxury refurbished 2 bedroom conversion and new build apartments, with spectacular views of Edinburgh Castle and city skyline. Prices from £625,000.

Suburban Hotspots

The popular suburban hotspots of Colinton, Cramond, Gyle, Morningside, Pilton, and Portobello areas.

■ These areas have access to excellent transport links and a range of good state and independent schools.

■ Prices per sq ft for flatted developments in Morningside and Murrayfield, which appeal to downsizers, are reaching £400 for large flats on average in excess of 1300 square feet.

■ On average, detached and semi detached houses in these outer suburban hotspots are achieving £234 per sq ft, higher than flats at many developments. Developments along and within the bypass are providing highly sought-after family housing.

↑ WHITEHILL WOODS, ROSEWELL, WHITEHILL WOODS LTD. A niche development of 4 & 5 bedroom detached family homes set within a spectacular country estate, overlooking Whitehill House Golf Course. Prices from £695,000 to £950,000.

Regeneration Momentum

Bonnington and Leith waterfront continue to be the focus of substantial development, with Leith now gaining a premium over Bonnington.

■ Flats here are achieving on average £268 per sq ft which compares favourably to central Edinburgh in terms of affordability.

■ By contrast, developments in Pilton and Newcraighall are attracting younger buyers. The product is smaller at an average of 700 square feet, and prices are closer to £200 per sq ft.

■ Developments in the West and South West are also gaining momentum.

■ These areas are providing highly sought-after family housing on a large scale, with the average development density in these areas being 79 units.

↑ THE SCHOOLHOUSE, NIDDRIE, CCG HOMES. A development of 32 terraced houses and apartments only five miles from the city centre. Launched in June 2015, with a sales rate of four per calendar month. Prices from £125,000.

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