HOUSE prices across East Lothian have shot up by more than 10 per cent over the last 12 months, making the county the most expensive place in Scotland to buy a property.

Newly published findings show that the average house price in the county in September last year was £320,152.

However, that figure has jumped by 10.2 per cent – the third highest increase across Scotland – to £352,789.

The new data puts East Lothian, which was ranked number three in 2023, now above the City of Edinburgh and East Renfrewshire as the most expensive local authority areas.

And the figures show little sign of slowing down.

In August this year, the average house price was £328,081 but that figure had increased by almost £25,000 the following month to £352,789.

The monthly change (7.5 per cent) was the highest out of anywhere in Scotland, with Na h-Eileanan Siar (5.8 per cent) and Argyll and Bute (5.1 per cent) the next highest.

Scott Jack, regional development director at Glasgow-based Walker Fraser Steele, said: “Our data shows this month that average house prices in September grew by a modest £400 (0.2 per cent) compared with August.

“The increase took average prices above £226,600 for the first time, meaning that Scotland’s housing market hit a new peak for the fifth time this year.

“Notwithstanding the improving backdrop of the cost of living, the Scottish market appears subdued in September, with 14 local authority areas reporting rising prices in the month whilst 18 saw price falls.

“This is a limited and bumpy recovery to date, with prices up by only two-three per cent on a year-on-year basis in recent months.

“The data does not yet reflect any impacts on buyer and seller confidence from the budget, which will become evident over the coming months, and it will be interesting to see if mortgage pricing continues to harden as swap rates have risen.

“The Bank of England Base Rate cut was helpful for affordability and will doubtless ease some homeowners’ payments but it is unlikely to provide a significant boost to home buyers.”

Across Scotland, market conditions were described as “relatively subdued”.

However, East Lothian was one of four local authority areas to see prices in new market highs.