Edinburgh is the most lucrative city in Scotland for homesellers and the second most lucrative in the UK outside of London, according to a new survey.

The study shows the areas of the country that offer the greatest premiums on properties in current market conditions and the best return on owners’ investments.

It looked at the average sale prices achieved across each of the UK’s regions and major cities, based on the average number of monthly property transactions.

Regionally, London tops the table as the most lucrative region for sellers with an average property selling for £485,794 with Edinburgh in second place.

Properties in the Capital are on average selling for £270,111, compared to £151,856 across Scotland.

On average there are 953 monthly sales across Edinburgh compared with 982 in Glasgow (despite it being much larger than Edinburgh) and 8,564 across Scotland.

Parts of Scotland, including Edinburgh, are experiencing a post-lockdown property sales boom.

Hundreds of inquiries have come from south of the border and overseas as well as domestically.

One of the drivers of increased interest is believed to be from previously office-based staff being able to work from home and perceived lower rates of Covid-19.

Struan Douglas, Managing Director of Purdie & Co Solicitors and Estate Agents, said current market conditions will mean different things to Edinburgh sellers, depending on where they are on the property ladder.

He said: “If you’re close to or at retirement age and looking to downsize, or if you’re selling a second property, it’s great news - your asset is appreciating faster than any other UK city with the exception of London.

“You’ll certainly get more for your home than you would have done this time last year, but then again, you’ll pay more for your next property, assuming you’re looking to move within the city.”

He added: “If you’re selling your home in Edinburgh and moving to another city outside of London then you can still feel pretty pleased with yourself, as you’ll get more for the money you’ve made on your home in the Capital.”

 

To have your home valued by trusted experts, call Purdie & Co on 0131 346 7240 or visit www.purdiesolicitors.co.uk