In Edinburgh, the average selling price was £286,052, up 6.3 per cent year-on-year.

Two-bedroom flats in Portobello and Joppa saw a 15.5 per cent increase in average selling price, rising to £273,591 – the average Home Report valuation of two-bedroom flats listed in these areas over the pa

st three months was also up 20.1 per cent year-on-year, meaning that higher value properties coming to market likely accounts for some this significant increase.

However, two-bedroom flats in the New Town and West End saw a 15.3 per cent decrease, dropping to £397,183. This decrease is partially due to more lower value properties in the New Town being listed on ESPC in recent months compared to last year.

Areas in Fife also saw some significant year-on-year increases in average selling prices, with properties in East Fife selling for an average of £277,619, up 18.6 per cent compared to last year. Average prices in West Fife and Kinross were also up 15.9 per cent year-on-year. In both areas, the increase is partially due to a greater number of larger, higher-value properties being sold.

Over the past three months, the average property selling price for the Scottish Borders was £263,323, up 14.8 per cent compared to last year.

In Midlothian, properties prices were up 10.6 per cent compared to last year while West Lothian properties saw an 11.5 per cent increase in average selling price. In East Lothian, the average property selling price rose by 6.3 per cent.

In the final quarter of 2020, the volume of property sales rose by 39.7 per cent compared to last year. This is indicative of how busy the property market was in the summer and autumn.

The top selling properties in terms of sales volume were three bedroom houses in Dunfermline and two-bedroom flats in Leith.

39.6 per cent more homes in Edinburgh, the Lothians, Fife and the Borders were listed on ESPC in the last quarter of 2020 compared to the previous year. In the capital, 54.8 per cent more properties came to mar

ket over the past three months compared to last year.

Across Edinburgh, the Lothians, Fife and the Borders, the average percentage of Home Report valuation achieved between October and December 2020 was 103.8 per cent. In Edinburgh, properties achieved 104.3 per cent on average.

Properties in Edinburgh, the Lothians, Fife and the Borders also sold faster compared to last year, with the median time for a property to be placed under offer at 18 days compared to 22 days last year. In the Borders, the median time for a property to be placed under offer was 26 days compared to 100 days last year, which is a significant drop.

Paul Hilton, CEO of ESPC, said: “ The end of 2020 saw higher selling prices, faster selling times and far more homes coming to market in Edinburgh, the Lothians, Fife and the Borders compared to the end of 2019. Homes are generally continuing to sell well but there’s also a good choice of properties on the market.

“The Scottish government has confirmed that house moves and associated activities, including property viewings, can go ahead under the new lockdown restrictions provided they can be carried out safely. However, they continue to advise that those under level four restrictions may wish to postpone house moves and related activities if possible.

“Public health and safety is of the utmost importance at this time. I would advise those interested in buying or selling a property in 2021 to seek expert advice from a solicitor to find out about market conditions and get up-to-date information about the latest guidance on COVID-19 and house moves.”