Spike in Scottish million-pound property sales

The total increase in Scottish million-pound home sales over the last five years was 67 per cent, beating the Great Britain average of a 36 per cent increase over the same period. However, when comparing sales with 10 years ago, Scotland was 4 per cent lower in 2018, while Great Britain has increased by 194 per cent.

The number of properties sold for a million pounds or more in Great Britain as a whole however held steady over the last year.

The greatest volume of sales in 2018 was in Edinburgh, with a 10 per cent increase over the last year from 101 to 111, bringing its overall growth in sales to 23 per cent over the last 10 years.

Edinburgh also saw the largest proportion of sales of homes worth £2 million and above, with 13 sold in 2018 - up from five in 2017.

Growth was also sustained outside the capital. There was a 150 per cent increase in million-pound property sales in Stirling in 2018 (from two to five) and high value homes sold in Aberdeen City jumped from three to seven in 2018 (an increase of 133 per cent).

East Lothian had the highest number of Scottish million-pound sales outside Edinburgh in 2017, but this trend was reversed in 2018 as sales dropped from 10 to five.