Des res factor helps Capital buck house prices trend

Published on 03/07/2012 12:00

HOUSE prices in the Capital have bucked the national trend after prime Scottish property values dipped again, according to new figures.

Scottish prime house prices fell 0.9 per cent in the second quarter, taking the annual decline to four per cent.

However, activity in Edinburgh picked up markedly over the same period, with a 50 per cent rise in exchanges, underpinning a 0.6 per cent rise in prices.

Matthew Munro, partner at Knight Frank’s Scottish residential department, said: “Family homes in well- recognised, desirable residential areas are in short supply and therefore attract attention when they come on to the market.

“The pick-up in activity has been triggered by pent-up frustration in Edinburgh – supply has been limited and many prospective buyers have been forced into rental accommodation instead.”

Another positive indicator was an 89 per cent rise in property viewings during April and May compared with the same period last year.