Haddington, North Berwick, Dunbar, Gullane, East Linton
Median price at May 2004: £117,500
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General increase since September 2003: 21%
Projected increase to September 2005: 10%
Market view: Known as the breadbasket of Scotland, on account of its fertile arable land, East Lothian is also yielding impressive profits for those lucky enough to own property there.
In towns such as Haddington, Dunbar, North Berwick and Longniddry, you’ll find the full range of properties available — everything from one-bed flats above retail premises to grand country houses and manses. Prices start at £55,000 at the lowest level and go up to more than £1m. Over the past five years, property prices have been growing at between 10% and 20% year on year, and last year, the market in East Lothian was probably even stronger than that in Edinburgh.
With a population of 68,000, East Lothian enjoys high-quality local services, especially leisure and education. The council is seen as particularly capable, and the perception among the many top property professionals who — tellingly — choose to live in the area, is that everybody gets value for money for their council tax. For commuters, who provide the lion’s share of new sales in the county, another factor that draws people in is price. East Lothian may be growing exponentially, but a charming five-bed home can still be bought for about half the price of an equivalent property in an area such as The Grange in Edinburgh.
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At the top end of the market, East Lothian’s large country properties have generally doubled in value in the past four years.
Popular for golf and other outdoor pursuits, East Lothian is a mecca for young upwardly mobile families moving from other areas.
Along with the improved motorway system, a long-term plan to build a new town on a former open-cast mining site between Longniddry and Tranent could also enhance the excellent local amenities. As a result, the outlook for prices remains decidedly hot, despite some cautious forecasts in this sunny east coast enclave.
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New 1-bed apartment (Port Seton)
September 2003: £49,000
September 2004: £70,000
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September 2005: £77,000
Second-hand 1-bed apartment (Haddington)
September 2003: £59,000
September 2004: £85,000
September 2005: £94,000
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New 2-bed apartment (Wallyford)
September 2003: £55,000
September 2004: £79,000
September 2005: £87,000
Second-hand 2-bed apartment (Dunbar)
September 2003: £112,000
September 2004: £158,000
September 2005: £174,000
Second-hand 3-bed semi (Haddington/Dunbar)
September 2003: £129,000
September 2004: £185,000
September 2005: £204,000
Second-hand 5-bed detached (Aberlady)
September 2003: £192,000
September 2004: £275,000
September 2005: £303,000
Second-hand 2-bed cottage
September 2003: £161,000
September 2004: £230,000
September 2005: £253,000
Second-hand 4-bed town house (Haddington)
September 2003: £175,000
September 2004: £250,000
September 2005: £275,000
Farmhouse with paddock
September 2003: £600,000
September 2004: £750,000
September 2005: £800,000
5-bed former manse
September 2003: £600,000
September 2004: £750,000
September 2005: £800,000
Country house with land
September 2003: £1.3m
September 2004: £1.5m
September 2005: £1.6m
(Sources: JE Shepherd, Lindsay Duncan and Black WS, ESPC, Knight Frank)
WHAT YOU CAN BUY FOR UNDER £60,000