Slump in Edinburgh house prices
There has been a slump in the price of houses in Edinburgh. They were down by an average 11% for the first three months of the year. That's when compared to the same period in 2015.
There has been a slump in the price of houses in Edinburgh.
They were down by an average 11% for the first three months of the year. That's when compared to the same period in 2015.
The figures are from Registers of Scotland which records every property transaction.
The statistics also show that the average property price in east central Scotland has also suffered - and is now 10.5% less.
The ESPC says: "These fluctuations in price can be attributed to Land and Buildings Transaction Tax (LBTT) introduced in April 2015. Average selling prices in the first quarter of 2015 were driven up by larger than normal volumes of high-end properties, with people wishing to buy before the new tax rates came into place."