Rettie & Co: Hybrid working is transforming East Lothian property market
House hunters in East Lothian are prioritising green areas and more space over traditional city centre dwellings as people continue to work from home, according to 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.
Ross Matheson, marketing account manager at Rettie & Co., 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.
Mr Matheson added: “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.”
Craig Fairfoull, head of sales & marketing at Dundas Estates, added: “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.”