The latest House Price Index Report Shows Big Increases in Property Prices in Edinburgh and Midlothian
Midlothian and Edinburgh property prices are up 11.9% and 9.3% respectively, according to the latest Registers of Scotland House Price Index Report. In Scotland as a whole, property prices increased by 2.9%, growing slightly quicker than the UK annual rate of 2.8%.
Jenna Spence, Operations Director at Neilsons Solicitors and Estate Agents, said: “The recent house price data from Registers of Scotland is very encouraging, particularly for sellers in Edinburgh and Midlothian. It is also interesting to see Scotland property prices growing slightly quicker than the UK annual rate, due to large increases like this in the local markets. It should be noted that Scotland is a patchwork of different markets, each with its own dynamics. Even in Edinburgh or Midlothian, there are variations depending on location, property type and presentation. I would suggest that anyone thinking of selling obtains a free pre-sale appraisal with an experienced Solicitor Estate Agent to obtain an accurate idea of property valuation, and what the property may achieve on the open market. If you are thinking of buying in the local market, it is important to obtain professional advice from an experienced conveyancing Solicitor that can really guide you through the current purchase maze.”