Edinburgh sees ‘slight rise’ in property value

Edinburgh has seen a 0.9 per cent increase in its property prices for the last quarter, according to Lloyds TSB Scotland.

Those looking to buy a house in Scotland may welcome the rise as it further confirms the growth in the capital’s housing market.

Despite some falls in average property prices across Scotland for the three months to 31st January 2008, annual figures show that Scottish house prices have risen by 14 per cent.

Professor Donald MacRae, chief economist at Lloyds TSB Scotland, indicated that most Scottish cities like Edinburgh had seen an "annual underlying price increase".

The quarterly housing price index also observed changes across different property types in Scotland, with flats showing the biggest increase for the quarter with a rise of 2.1 per cent.

However, people hoping to buy a house in Scotland will take satisfaction from annual figures that show all property types have experienced robust growth.

The Royal Institution of Chartered Surveyors recently released a survey showing that housing, construction and commercial property markets were performing well in Scotland.