House prices in Edinburgh and Lothians soar again during summer

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HOUSE prices in Edinburgh and the Lothians have risen faster than anywhere else in Scotland, latest data shows.

The biggest price increases were in West Lothian, Midlothian and Edinburgh, where average prices increased by 11.3% to £159,408, 9.2% to £180,807 and 9.2% to £255,361 respectively.

The latest UK House Price Index reveals a 4.8% rise across Scotland to £150,472.

Prices experienced the biggest drop in Aberdeen and Aberdeenshire, where they fell by 2.8% to £159,507 and 3.7% to £189,200 respectively.

Across the UK buyers paid an average of £228,384 - an increase of 3%.

Residential sales in Scotland were meanwhile down 9.4% in April to 7,371.

Kenny Crawford, of Registers of Scotland, said: “Average prices have been increasing each month since March 2016, when compared with the same month of the previous year.

“Residential sales volumes decreased in April, the start of the new financial year.

“The annual decrease of 9.4% when compared with April 2017 in Scotland is in the context of larger decreases across the rest of the UK.”

The volume of sales increased in four of Scotland’s 32 local authorities, with East Lothian and Perth & Kinross recording the biggest rises.

Argyll and Bute, Stirling and Inverclyde meanwhile saw the largest fall in sales, according to the index.