Edinburgh house prices rise and sales jump by a third
However, experts expect price inflation to start to cool later this year as the number of houses coming on the market begins to rise. The figures came as the Edinburgh Solicitors' Property Centre published its latest quarterly figures.
They revealed that prices across the area rose steadily during the second quarter of 2010, though there were significant differences across property types, with larger family homes seeing annual inflation of 10 per cent, while one-bedroom flats were unchanged in most areas.
Overall, the average house price across East Central Scotland rose from 191,095 during the second quarter of 2009 to 212,921 during the same period this year - an annual rise of 11.4 per cent.
The number of homes sold also showed a large increase, with completed sales across the area up almost 25 per cent annually to more than 2,100.
David Marshall of the ESPC said: "Demand from buyers edged upwards over the last three months and this has helped to push prices upwards.
Despite this, the supply of properties coming to the market has increased at a faster rate and this has meant the number of homes available is much higher than at the start of the year.
"This, coupled with the prospect of job losses in the public sector, should exert a downward pressure on prices in the months ahead meaning that the high levels of inflation we have seen recently will ease.
Towards the end of 2010 we would expect prices to be in line with levels witnessed late last year. "
In Edinburgh, average house prices increased by 9.6 per cent annually during the second quarter, up from 5.9 per cent recorded during the first quarter of the year. Properties in the capital sold for an average of 227,760 between April and June this year compared with 207,890 during the same period in 2009.