Home sales soar by 10%

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House sales in Edinburgh and the Lothians rose by more than ten per cent in the last year, according to latest figures.

Property firm ESPC said low interest rates, confidence in the market and low prices helped drive the increase.

It said sales between May and July were up 10.2 per cent on the same period in 2011.

The average house price in Edinburgh rose by 0.2 per cent to £222,916 year-on-year.

David Marshall, business analyst with ESPC, said: “In most areas prices haven’t changed a great deal, but the number of homes selling has been considerably higher than in recent years.

“Several factors have led to the rise. Prices are lower than they were at the peak of the market and interest rates are still very low, meaning property is more affordable.”