ACCORDING to new research almost half of the Scotland’s £1m-plus properties sold are recorded in the capital.
Last year alone 68 homes in Edinburgh were sold for more than £1m – a figure that is predicted to more than double by 2019 to 148.
The research – carried out by property site Zoopla for The Sunday Times – will further raise hopes that confidence is returning to a market shattered by the economic crisis of seven years ago.
It comes just weeks after the most expensive post recession residential home in Scotland was snapped up in Edinburgh for £4m.
Hillwood House, on the slopes of Corstorphine Hill, cost almost £1m more than the most expensive mansion sold north of the border last year.
With nine bedrooms, a tennis court, cinema room, gym and links to one of Scotland’s most famous exports, the property was sold just months after going on the market.
Once home to the MacKinnon family of Drambuie fame, the house was sold by upmarket estate agents Strutt & Parker for “just shy of £4m” to an undisclosed buyer in February.
According to the new research, which was conducted across the whole of the UK, the number of areas where prices were up more than £500,000 is up 20 per cent on last year.
The highest average house price was £2.65m in the Kensington area of London.