City Guide to Edinburgh, Scotland

City Guide to Edinburgh, Scotland

Average Edinburgh Home Cost £221,209 Say Government Stats

By edg - Posted on 27 August 2008

The average home in Edinburgh cost £221,209, according to official figures for the second quarter (April to June) published today by the Registers of Scotland. The figures cover all residential sales, including sales for cash not involving a mortgage.

In spite of a property market slowdown, the average Edinburgh house price still increased by 6.2% and is up 5.9% when compared to the same quarter last year.

The City of Edinburgh local authority area retains the highest average residential price and the largest market with sales of just over £665 million for the
quarter, a decrease of 21% on the same quarter 2007.

The ESPC recently reported that at the end of July there were twice as many properties on the market in Edinburgh than in 2007.

Prices throughout Scotland

The Registers of Scotland recorded an average house price increase of 3.6% in the second quarter to £155,691. That is a 4.6% increase over the same quarter in 2007.

However, the volume of sales dropped 19.4% compared to the same quarter last year.

The total value of sales across Scotland registered during the quarter was £4.8 billion, which is an increase of 16.9% over the previous quarter and a decrease of 15.9% over the same quarter last year.