15-05-2025
- Business
- The Herald Scotland
Galashiels revealed as Scotland's fastest-moving property hotspot
Two homes – both flats - were responsible for ESPC's fastest property sales transactions so far this year.
Each of the homes, located on adjacent streets less than 200m apart, were one-bedroom flats sold for £35,000 and £70,500 respectively.
ESPC, which covers Edinburgh, the Lothians, Fife, and the Scottish Borders, said that its research has shown many homes flying off the market in a matter of days.
It said that across its area 24 properties had sold within the space of just four days, with Edinburgh led the way with eight lightning-fast sales.
Galashiels saw two flats sold within 24 hours (Image: HELEN BARRINGTON) This is followed closely by the Borders and East Lothian, each recording six, and Midlothian with four.
These estate agent said that the figures show that while the capital remains a hub of market activity, demand for homes in surrounding areas remains strong, particularly for buyers looking for space, lifestyle change or better affordability.
Galashiels, which the main town in the Borders, is known for its rural charm and quiet streets. The town is home to the 'Braw Lads Gathering' each year, where riders take to horseback to commemorate the establishment of the Burgh Charter.
A former centre for textile production, many of its former industrial buildings have been repurposed. It is the area's centre for retail, with Marks and Spencer, next and Matalan present on its business park.
READ MORE: 'Prominent' city office and studio building put up for sale
Guest house with 'panoramic views' of Ben Nevis for sale
ESPC said that the quick turnover in traditionally less urbanised areas like the Borders and East Lothian may reflect an ongoing shift in buyer priorities, with people continuing to seek out properties that offer a blend of rural appeal and good transport links.
Galashiels lies one hour's drive from Edinburgh of the A7, and is also linked by train and bus services.
The homes that sold within this ultra-fast timeframe were fairly evenly split between flats and houses, with 12 flats and 11 houses making the list.
One retirement home was also included, highlighting that demand for speedy sales spans a wide range of buyer profiles.
ESPC said that the strong showing from flats - particularly in urban locations like Edinburgh - is consistent with a broader return to city living post-pandemic, as lifestyle habits shift back towards offices, cultural activities and amenities.
Galashiels, in the Scottish borders (Image: Getty Images/iStockphoto) Meanwhile, houses continue to attract families and professionals seeking extra space and gardens, particularly in East Lothian and Midlothian.
The majority of the properties (17 out of 24) were marketed at 'Offers Over,' suggesting that this pricing strategy is still highly effective at driving competition and accelerating sales.
Guide Price was used for four of the properties, with Fixed Price and In The Region Of used for the remainder.
The average sale price among the 24 properties was £218,025, with individual prices ranging from as low as £35,000 to as high as £415,000.
The average percentage of Home Report valuation achieved was 103.70%, with one property achieving 111% of its valuation.
