£1m homes sales in decline

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THE number of house sales over £1 million in the Capital has fallen again.

Estate agents Rettie & Co said Edinburgh still accounted for more than 40 per cent of the top-end market, but sales were growing fastest in Aberdeen.

Last year, properties changing hands for more than £1m in Edinburgh numbered 53 compared with 62 in 2011 and 73 in 2010.

Rettie said most of those buying £1m-plus properties were already based in Scotland, with just 13 per cent from overseas.

The report said the recovery in the highest-priced homes market witnessed in 2010 had largely petered out, with sales of £1m-plus properties down by 15 per cent in 2011 and another five per cent last year.

But Rettie said there were encouraging signs of the market returning in the first part of this year with ten properties over £1m in Edinburgh in the last three months.