17 million-pound homes sold in last 2 months by city agent

Published on Wednesday 5 March 2008 13:21

SEVENTEEN million-pound-plus homes have been sold by an Edinburgh estate agents in the last two months.

Upmarket estate agents Rettie & Co said the upper end of the market is continuing to thrive despite economic uncertainty.

Demand for homes worth 750,000 or more continues to outsrip supply, which is having the effect of pushing prices up towards seven figures.

Rettie & Co has experienced a slight dip in profits, although the estate agent puts this down to funding a series of expansion moves, rather than sales, which have been good.

In the 2007 calendar year, Rettie sold 70 properties worth more than 1m, with 13 of them selling for more than 2m.

Although recent figures showed growth in the property market cooling in the second half of last year, in the wake of the Northern Rock and credit crises, the top end has continued to perform better than the rest of the market.