Edinburgh beats house price down trend

EDINBURGH is the only part of Scotland which has “bucked the trend” which sees most homes selling for almost 10 per cent less than the asking price, according a property website report.

Research showed the average asking price for properties was £169,269 between April and June, but the average amount they sold for was £153,301.

The report, from s1homes, said sellers needed to face the “reality gap” that properties were selling for around £15,500 less than the price they were put on the market for.

The disparity was largest in North and South Lanarkshire, Glasgow, Dunbartonshire and Falkirk.

Mark Smith, managing director of s1homes, said: “The report shows that house sellers are still being unrealistic with their expectations and setting their asking prices too high.

“Even with the slight increase in selling prices achieved the gap between expectation and reality is still very marked, particularly at the higher end of the market.”