Craig Hoy, a Conservative MSP for South Scotland, has this week raised concerns about an 11% increase in the number of second homes and long-term empty properties in East Lothian.
Over the last year, there has been an increase of 100 second homes and long-term empty properties in East Lothian, bringing the total figure to 989 properties. Data indicates that house prices in East Lothian are the second highest in Scotland after Edinburgh. According to property group Zoopla, the average price of a house in East Lothian in 2021 is £253,018 - over £20,000 more expensive than last year. Two of the most expensive towns in Scotland are located in East Lothian – being Gullane and North Berwick.
One in 20 properties in North Berwick are second homes or long-term empty properties, and the average price of a house in the town is now a staggering £444,876. Rural and coastal property prices have surged since lockdown, and agents report an increase in the number of prospective purchasers seeking second homes in order to escape city living or to generate Airbnb or holiday home income.
Responding to the figures, Craig said, “Young people who have lived and worked in towns such as North Berwick and Gullane are being completely squeezed out of the property market and are having to look for more affordable alternatives miles away - often out of East Lothian entirely. There is a pressing need for affordable housing to be made available for local residents. This is especially true for first-time buyers, who are struggling to get on the property ladder.”
He added, “I would encourage first-time buyers to look into the UK Government’s Lifetime ISA which could earn them a 25% tax-free bonus on savings to help towards buying their first home.
“In the meantime, I also think we must have a debate about how we approach empty properties in hotspot areas such as East Lothian so our housing market is accessible and sustainable.”
