Most of the regions enjoyed similarly small but healthy increases in average selling prices, with the Borders seeing a 3.4% annual increase and homes in West Fife & Kinross rising 3.6% annually. The only exception was East Lothian, where average selling prices declined 4.3% year-on-year to £270,654; however, as we have seen in recent months, this is more likely due to a rise in demand for smaller or lower-priced properties in more affordable areas, coupled with fewer sales of larger, more expensive homes in pricier neighbourhoods.

In Edinburgh, there was a notable jump of 5.3% in the average selling price for property in the city centre, taking the new average to £324,614. Two-bedroom flats in the West End and New Town were especially in demand, with the average selling price of this property type rising 15.8% annually to £437,008.

Meanwhile, the average selling price of Edinburgh’s most affordable area, Edinburgh West, saw a 4.1% annual increase, taking the new average to £215,873 and ensuring this part of the city remains an attractive prospect for buyers.

The average selling price of three-bedroom houses in the popular areas of Blackhall, Davidsons Mains and Silverknowes dropped 9% year-on-year, to £476,708.

The most affordable property type on the market during June-August 2024 was one-bedroom flats in Dunfermline, which came with an average price tag of £95,073, making them an extremely alluring option for first-time buyers and property investors.

Sellers across Edinburgh, the Lothians, Fife and the Borders could continue to expect a speedy sale during June-August, with a median selling time of just 21 days – although this is two days slower than the same time last year.

Properties flew off the market in West Fife & Kinross, taking only 14 days to go under offer (the same median selling time as June-August 2023). Looking specifically at this region, Dunfermline took the crown for the fastest-selling homes overall, with properties in the city going under offer in only 13 days, one day quicker than last year.

By contrast, homes in East Fife and Midlothian sold the slowest, although their median selling time was still only 25 days (three days and four days slower year-on-year respectively). Sellers in West Lothian experienced a real rush from home hunters, with properties selling 16 days faster than they did in June-August 2023, being snapped up in 18 days.

Paul Hilton, CEO of ESPC, said: “We’re once again seeing a lot of stability when we compare this period to the same time last year, which will be welcome news for buyers and sellers looking to make an onward purchase.

“There are more clear signs of high confidence in the market, and we can only hope to see this continue into the autumn, as we expect to see that ‘last push’ of activity for those who want to move home before Christmas.”