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Edinburgh house prices still falling

House prices in Edinburgh have fallen 3.6 per cent over the last 12 months, new figures show.

Across Scotland, house prices are showing little sign of improvement, the quarterly report published this week by Edinburgh Solicitors Property Centre (ESPC) reveals.

The average house price in the capital now stands at £222,525.

Projected house prices remain unchanged at between three and five per cent lower than a year ago while rises in Midlothian and West Lothian appear unlikely to persevere.

In East Lothian, prices fell 5.3 per cent on the same period last year to an average of £223,347.

David Marshall, ESPC's business analyst said: "House prices rose in 2010 but are now starting to ease back meaning home values in most areas are now back in line with levels we were seeing two years ago."

There has also been an increase in the number of properties being sold at less than the asking price, rising from 56 per cent last year to 68 per cent. The number of people in the market to buy continues to sit below the pre-recession figure. 

Posted on Friday, 09 September 2011 under Edinburgh Storage

 

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