HOUSE hunters are prioritising green areas and more space over traditional city centre dwellings in the latest market review by property experts, Rettie & Co.
According to Rettie & Co’s. Scottish Housing Market Summer Review, demand for East Lothian homes is on the rise, while homes brought to the market in the region last year fell by 28% against 2019 figures.
The property specialists believe the change in attitudes can be attributed to a greater acceptance of the hybrid working model.
With more companies offering the flexibility of working from home, potential buyers are opting for more value for money by seeking properties out with Edinburgh.
It comes after the firm’s latest 140 home development in Musselburgh, The Wireworks, in partnership with property developer Dundas Estates, has received 600 enquiries in just 3 months.
Marketing Account Manager at Rettie & Co., Ross Matheson, said: “We are seeing a greater number of potential buyers enquiring about homes out with the major cities across Scotland.
“This can be attributed to the changing attitudes to the working environment post-pandemic. With a greater acceptance of working from home, we are finding buyers are willing to live further from large cities in search of more spacious homes and greater green space.”
According to statistics from Rettie & Co. the average price of a house in Edinburgh stood at around £282,420 last year, while the average property price was close to £10,000 cheaper in East Lothian at around £272,268.
Ross, said: “Musselburgh is proving to be a very popular destination for potential buyers. We have recently had a spate of enquiries in and around the area.
“Being a commuter town just outside of Edinburgh, Musselburgh offers the best of both worlds; city convenience with an abundance of green space and amenities such as the River Esk, nearby beaches and the Musselburgh Racecourse, as well as the renowned Luca’s Ice Cream parlour.”
Head of Sales & Marketing at Dundas Estates, Craig Fairfoull, said: “It is important that we meet the demand for housing in what is becoming an ever-popular destination in the east of Scotland.
“With that in mind, we are investing heavily in the local community over the course of construction; we are delighted to be working alongside Rettie & Co.”
Dundas Estates, through a partnership with Tesco, East Lothian Council and NHS Lothian, acquired The Wireworks site after receiving planning permission to regenerate the former Brunton Wireworks site and neighbouring land in 2008.
The development will have the capacity to store 140 bicycles in internal and external bikes stores. Electric car charging facilities will be available throughout the development. Private gardens and balconies will also be available at various apartments.
The Livingston-based firm is committing, through Section 75 payments, to contribute up to £400,000 along with the other partners which will be invested into local schooling and infrastructure.
To learn more about Dundas Estates’ Wireworks development, call 0131 243 3858 or email: thewireworks@rettie.co.uk
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