Property figures back two-tier market fear

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THE latest house price figures have confirmed the emergence of a two-tier property market in the Capital.

Statistics from Edinburgh Solicitors Property Centre (ESPC) support those released by Registers of Scotland last week, which showed that larger properties were selling much better than small ones.

The ESPC figures for the three months to January showed the proportion of one- bedroom flats that sold for under £100,000 rose to 36 per cent for the three months to January, up from 26 per cent a year ago, and 20 per cent in 2008. The average house price in Edinburgh stood at £211,956, an annual fall of 1.1 per cent.

Business analyst with ESPC David Marshall said: “The market for smaller properties continues to face the greatest difficulties as the impact of lending restrictions has a more pronounced effect on buyers here. Conditions are comparatively favourable for sellers of larger, family homes.”