Prime property market in Edinburgh it one of the top performers in Europe
December 27, 2018 / Knight Frank
Prices in Edinburgh’s prime property market increased year on year by 10.6% in 2018, the highest level of annual growth for more than a decade, the latest analysis shows. Properties valued above £2 million recorded the strongest price growth in the fourth quarter, with values up 3.5% between October and December, the data from Knight Frank’s Edinburgh City index also shows. Meanwhile, sales volumes above £1 million in the city were 12% higher than at the same point in 2017 and this robust activity is underpinning strong price growth overall. The report also reveals that properties are selling faster, with the average time taken between a property first coming onto the market and it reaching a sold status 12.5% lower than in 2016.