Edinburgh’s prime residential prices have jumped by 10.6% in 2018, with properties valued above £2m surging ahead of a new tax regime.
The city’s prime market has not grown by such a steep level in more than a decade, with annual price growth averaging just 1.4% between 2010 and 2018, according to Knight Frank data.
In comparison, the prime market in the whole of Scotland grew by 2.3% year-on-year.
One reason for the strong performance is a rise in sales volumes. The data show that sales above the £1m mark in 2018 ran 12% higher than