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Edinburgh market overperforms while Scotland improves

Edinburgh has seen price growth of 1.9% across Q3 2018, while prices in Scotland rose by 0.7% in the same period, according to Knight Frank reports.

Its latest Prime Edinburgh City Index and Scottish Country House Index revealed a strong performance across both locations.

In Edinburgh, annual growth over the year to September marks the highest level of price growth in any major UK city tracked by Knight Frank over the same period.

Although stock levels are down (which is starting to impact on sales volumes), Central Edinburgh remains in high demand, aided by both the second hand and new-build market.

Meanwhile, in Scotland, annual growth stands at 2.1% - the strongest rate of annual growth recorded by Knight Frank’s index since the end of 2014.

The market above £1 million has been more buoyant, with sales up by 4% year-on-year. Much of this can be accounted for by an increase in transactions in urban markets, as well as in areas within commuting distance of city hubs.

Oliver Knight, research associate at Knight Frank, commented: “It is important to view Edinburgh’s price rises in context. Recent strong performance follows a period of fairly subdued growth in the city.”

“Many country locations currently appear comparatively good value, especially when compared with prime markets elsewhere in the UK,” he added.

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