Responding to the latest Scottish House Price Monitor, which shows Scottish house prices have risen over the past three months, Warners estate agency partner Scott Brown said:
“We have certainly seen prices stabilise and even increase very slightly over the past few months. We are now at the point where house prices in many areas in Edinburgh have recovered to the levels that we saw a year ago.
“The Scottish House Price Monitor report has suggested that the volume of house sales across the UK is currently down on the level from 2008. However, this does not seem to be the case in Edinburgh as, in recent weeks, we seen a marked increase in the number of property sales across the region.
“In October, we sold 61 properties, compared to just 43 over the same period in 2008 – so it’s clear that Edinburgh is bucking the trend as far as sales volumes are concerned.
“Of course, house prices and the number of sales are still well down on where they were at the peak of the market in 2007, so we still have a long way to go before we see a full recovery. However, we have certainly moved forward considerably from where we were 12 months ago when I look at the market in Edinburgh and Lothians.”