Earlier this week, Edinburgh Solicitor’s Property Centre (ESPC) revealed that house prices in the city are continuing to rise, despite the ongoing economic turmoil.
The first three months of 2010 saw the sale value of the average property sold in Edinburgh increase to £207,420, a 5.9% rise year-on-year. Nearby East Lothian can now boast the highest average property price in Scotland, at £210,952, thanks to a 16.7% increase on 2009′s figures.
ESPC also report that house prices in Edinburgh’s suburbs have fallen, particularly for larger homes, while the property market in the city’s trendy Bruntsfield and Marchmont areas has recovered back to pre-recession levels.
Not content with simply reading figures off a page, we at Informed Edinburgh decided to see what the average house price in the city was worth in real terms. Giving ourselves a generous budget of up to £250,000, we’ve gone in search of property bargains in five of Edinburgh’s most desirable districts.
Stockbridge
Where: St Stephen Street, EH3
How much: £245,000
Details: Gorgeous two-bedroom flat on the third floor of a B-listed Georgian block in the heart of Stockbridge. Large lounge and dining kitchen. Spectacular master bedroom. Plenty of original period features including working window shutters, facings and strip floors.
Morningside
Where: Braid Road, EH10
How much: £240,000
Details: Second floor two-bedroom flat with spectacular views of the nearby Braid Hills. Featuring large lounge and modern kitchen with seperate dining area. Access to shared garden and drying area to the rear of the property.
Newington
Where: Mayfield Road, EH9
How much: £239,000
Details: Very spacious three-bedroom third floor flat in a quiet area of Newington. Also includes a boxroom, kitchen, living/dining room and a lounge which could easily be converted into a fourth bedroom. Ideal size and location for a buy-to-let property.
Central
Where: Albany Street, EH1
How much: £250,000
Details: At the very top of our price range and smaller than most of the other properties we’ve selected this one is something special nonetheless. Two-bedroom top floor flat just off Broughton Street in an early nineteenth century A-listed building. Plenty of storage space and beautiful period features.
West End
Where: Damside, Dean Village, EH4
How much: £230,000
Details: Probably the most unusual home on our list, this compact two-bedroom semi in Dean Village takes an unashamedly modern approach to city living. It’s set on two floors, with a tiny roof terrace and has access to two private gardens. The downside is that it’s quite small and has relatively little space to entertain but it’s an exciting and innovative property nonetheless.
Have we missed any dazzling properties below £250,000 in central Edinburgh? Let us know in the comments.
