Rise in million-pound home sales in Scotland

The rise in Scotland was much greater than that across the UK, which was up just 5% in the same period, according to Bank of Scotland analysis.

Scotland's capital city drove the increase, with sales of £1 million-plus homes up 41% - 18 houses - in the first half of 2019.

Of the 94 such properties sold in Scotland between January and June 2019, only 32 were sold outside of Edinburgh, meaning the city accounts for two-thirds (66%) of all these sales across the country.

Another area of growth in the high-end property market in Scotland was East Lothian, where five £1 million-plus homes were sold in the first half of 2019, up from one in the first six months of 2018.

Aberdeen sales also grew, with four luxury homes sold in the first six months of this year, up from two in the same period the previous year.

However, elsewhere in Scotland recorded falling sales in the high-end market, with two such homes in Glasgow being sold in the first half of 2019, down from five in the same period in 2018.

In Fife, eight luxury homes were sold in the first six months of this year, down from four between January and June 2018.

The number of properties that sold for more than £1 million in East Dunbartonshire also halved, dropping from six to three, while sales in East Renfrewshire fell from three to two.

Louise Santaana, head of private banking, Bank of Scotland, said: "Whilst the high-value property boom the UK experienced over the last decade has slowed over the past 12 months, sales of million-pound homes in Scotland have continued to increase, with the most transactions taking place in Edinburgh.

"The Scottish capital continues to be a sought-after destination for those looking to invest in million-pound houses.

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