Edinburgh million pound homes selling faster than anywhere else in UK

By PA Media & James Delaney

Million pound properties in Scotland are selling faster than anywhere else in the UK - with Edinburgh leading the way.

The Capital is responsible for well over half of all Scottish £1 million sales, with the average seven-figure home selling in just 61 days.

Data from RightMove found top end properties were finding a buyer 25 days faster than before the coronavirus pandemic.

The analysis compared the year before the pandemic with the year since the housing market re-opened.

Several other areas of the Lothians were also named as being among the top areas for million pound home sales as transactions showed signs of moving away from cities to more rural areas.

John Boyle, director at Rettie & Co in Scotland said: "The Scottish £1 million market has proven to be resilient in the face of the pandemic.

"Just like the wider housing market here, demand has been moving well ahead of supply, leading to price rises and fast-moving sales.

"The market is particularly strong in the east of the country, with Edinburgh alone accounting for well over half of all Scottish £1 million sales.

"However, other areas are seeing rising £1 million sales, particularly in outlying areas of the wider Lothians market, with sales outside Edinburgh notably higher in the east compared with recent years."

RightMove currently lists 40 properties with a guide price of at least £1m or over in Edinburgh.


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