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Edinburgh house prices continue to drop

Commenting on the latest report, David Marshall, business analyst with ESPC said:

“House prices in the capital continue to show some volatility due to lower sales volumes.  However where we see sharper rises or falls, these tend to be offsetting similar market volatility in the opposite direction a year ago.  This is evident in the average price of a one bedroom flat in Leith Walk or Easter Road, which jumped by 9% between 2010 and 2011 but dropped by 14.7% to £99,940 this year.

“We are still seeing an imbalance with the number of properties available for sale continuing to exceed ‘normal’ market levels, leaving buyers again in a position of relative strength to negotiate a sale.”

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