Sales of million-pound properties in Edinburgh on the increase

The number of homes selling for more than a million pounds in the Capital has risen by 10 per cent.

Thursday, 27th June 2019, 11:03 am
Updated Thursday, 27th June 2019, 12:03 pm
This New Town property is on the market for offers over 1.9m. Picture: Contributed

Edinburgh recorded the greatest volume of sales across Scotland last year, with a 10 per cent increase on 2017 (101 to 111).

It also saw the largest proportion of sales of homes worth £2 million and above - 13 last year, up from five in 2017.

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This New Town property is on the market for offers over 1.9m. Picture: Contributed

Louise Santaana, head of private banking and lending at Bank of Scotland, said: "The picture for high-end home sales is looking positive across many parts of Scotland and million-pound properties in Edinburgh in particular continue to see strong growth."

The number of properties sold in Scotland for more than £1 million has increased by 14 per cent, according to figures.

In 2018, there were 180 of these sales compared to 158 in 2017, according to Bank of Scotland's annual one million-pound houses index.

Over the last five years, the increase tots up to 67 per cent, higher than the average for the whole of Britain, which had a 36 per cent increase.

The 2018 figures for Scotland are four per cent lower than those a decade ago, however, while the British figure has increased by 194 per cent.

Ms Santaana added: "Whilst year-on-year increases are encouraging for areas including Aberdeen city, Dumfries and Galloway and South Lanarkshire, these are yet to return to the number sold before the financial crisis hit 10 years ago."