Here's how the coronavirus pandemic has affected house prices in Edinburgh

House prices in Edinburgh dipped slightly in March (Shutterstock)

New figures show that property prices in Edinburgh dropped by 1% in March compared to the previous month.

The average Edinburgh house price in March was £270,111, Land Registry figures show – a 1.0% decrease on February.Edinburgh fared worse than the rest of Scotland, where prices on average increased 0.4%.

Overall trend is positive

This does not reverse gains already made this year with property in the city seeing a 3.1% annual growth.

Over the past 12 months the average sale price of property in Edinburgh rose by £8,000.

The best annual growth in the region was in the Scottish Borders, where properties increased on average by 12.3%, to £163,000. At the other end of the scale, properties in Orkney Islands dropped 6.0% in value, giving an average price of £131,000.

Terraced houses see biggest drops

Owners of terraced houses fared worst in Edinburgh in March – they dropped 1.3% in price, to £290,115 on average. But over the last year, prices rose by 4.7%.

Detached prices were down 1.1% monthly, but up 5.1% annually to £576,521 on average.

Semi-detached prices were also slightly down down at 1% monthly, but up 5.2% annually to £364,937 average

Flats were the least impacted recording a decrease of 0.9% monthly, but retaining an annual increase of 2.3% with average prices sitting at £210,167.

Scottish property market comes to a standstill during lockdown

The latest figures comes as house sales in Scotland reached a standstill due to the coronavirus-induced lockdown measures.

With the Scottish Government advising against the moving of house during lockdown sales dried up during April.

Despite the shock to the market, Bernadette Walker, manager of the Highland Solicitors Property Centre has expressed optimism.

Speaking to the Press and Journal, she said: “Although the past two months have been tough, there is still strong interest in the property market in the north of Scotland, both from buyers and sellers.

“We have taken a steady number of inquiries throughout the lockdown period which is indicative of the demand for property movement.”