Sales of £1m-plus homes in Edinburgh rise 41%

The number of homes sold for £1 million or more in Scotland rose 21% year-on-year in the first half of 2019, compared to an increase of 5% across Great Britain as a whole.

The rise can be directly linked to the number of £1 million-plus properties sold in Edinburgh, which grew by 18 to 62 (41%) in the first half of 2019.

This accounts for 66% of all million-pound houses sold in Scotland.

Of the 94 £1 million-plus properties sold in Scotland in the first half of 2019, only 32 were sold outside of Edinburgh, demonstrating the importance of the nation’s capital to the high-end housing market.

Other areas of growth were in East Lothian, where five homes over £1 million were sold in H1 of 2019 (up from one in H1 2018), and Aberdeen, where four homes over £1 million were sold in H1 2019 (up from two in H1 of 2018).

Louise Santaana, head of private banking, Bank of Scotland said: “Whilst the high-value property boom the UK experienced over the last decade has slowed over the past 12 months, sales of million-pound homes in Scotland have continued to increase, with the most transactions taking place in Edinburgh.

“The Scottish capital continues to be a sought-after destination for those looking to invest in million-pound houses.”