£1million House Prices in Scotland double.....

azzuri · £1million House Prices in Scotland double.....

From BBC Scotland website - http://news.bbc.co.uk/1/hi/scotland/4253824.stm

The number of million-pound house sales in Scotland has more than doubled in the past year, according to figures.
The Bank of Scotland said 40 homes with seven-figure price tags were sold in the first half of the year, compared to 18 in the same period of 2004.

Half of the sales were in Edinburgh and the surrounding area, with four in Renfrew and three in Glasgow and Perth.

The increase bucked a national trend that saw million-pound house sales across Britain drop by 26%.

In the first half of 2005, there were more than 1,500 UK sales of million-pound properties.

Robust market

But that was down significantly on a figure of more than 2,000 for the previous year.

The biggest falls across the UK were recorded in Greater London and the South East.

The East Midlands, West Midlands and north-east England all registered small increases.

The Bank of Scotland said the housing market north of the border was still robust.

Its chief economist, Martin Ellis, said: "There has been a further significant increase in sales above the £1m mark in Scotland, reflecting the ongoing strength of the market."

The bank calculates there are 53,400 properties in the UK worth at least £1m compared to 3,400 in 1995.