Scottish Property Market Update

A battery of figures is available for house prices across Scotland. Although the numbers vary and can sometimes be confusing, one thing is crystal clear. Prices are significantly on the rise. Across Scotland, prices rose by 13.3% to £173,830 according to figures for the first quarter of 2015 from Registers of Scotland. Edinburgh recorded both the highest average for the quarter at £260,647 - a rise of 21.4% - and the highest volume of sales, with 2123 meaning volumes up almost 30 per cent. The Edinburgh Solicitors Property Centre recently revealed that the average price of a house in Edinburgh, Fife and the Lothians has risen by 18 per cent since last year, with prices in Edinburgh city centre up by 26 per cent. Classic supply and demand issues are behind Edinburgh’s high property prices. In recent years too few homes have been built. Prices have been driven up and families forced out to areas around Edinburgh where property can be cheaper and readily available. The Edinburgh Solicitors Property Centre recently revealed that the average price of a house in Edinburgh, Fife and the Lothians has risen by 18 per cent since last year, with prices in Edinburgh city centre up by 26 per cent. Demand for buy-to-let properties and mid-market family homes is forcing prices up. Buyers are often having to offer significantly over the home report price. And our data shows no indication of a slowdown in demand or the upward trend in prices.