House sales record sees city prices rise by 20%
HOUSE sales have hit record levels in the Capital in recent months and sent prices soaring by 20 per cent in some areas.
More properties were sold in Edinburgh in the final quarter of last year than during any other year-end since the Edinburgh Solicitors Property Centre was set up 36 years ago.
The surge in demand saw property prices across the city rise more than ten per cent on last year.
The record sales were highlighted in an ESPC report today, after the Evening News revealed earlier this month that estate agents had almost sold out of homes over the traditionally quiet festive period.
The biggest increase in demand has been for one-bedroom flats in the Leith Walk and Gorgie/Dalry areas, as first-time buyers increasingly struggle to afford two-bedroom properties.
The other most sought-after properties have been large family homes outside the city centre.
The ESPC review found there were 2979 properties sold in the Edinburgh city area from October to December last year - nearly five per cent more than in the same period in 2005.
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