Bruce Rae Property Management

Investing in Edinburgh Property?

Recent figures reveal that house prices in Scotland increased by almost 7% over the past quarter. Lloyds TSB Scotland also revealed that some of the biggest rises have been observed in the east coast cities, with an 18.2% increase in Aberdeen, 15% in Edinburgh, and 7.4% in Dundee.

This has led to the average price of a property in the capital exceeding the £220,000 mark. Professor Donald MacRae, the banks chief economist, commented, ‘Average prices are some three-quarters of the UK level and continue to be propelled by a combination of favourable economic background and demand for houses exceeding the supply.’ However, he also warned that recent interest rate rises could have a cooling effect on the market, something that may become evident in the next quarter.

Average house prices in Scotland have now risen steadily for 75 successive months.

For more information or advice regarding Edinburgh’s property market please contact:

Elspeth.Rae@brucerae.co.uk

All information taken from The Guardian.