Scottish property firm Rettie & Co have shared their statistics on the most expensive properties across Scotland in 2024 as they divulge that there's a new annual high of over £1 million house sales in Scotland.
In 2023 there was 506 house sales in the £1 million+ range, compared to 504 sales in 2022. Edinburgh is at the top of house sales overall - accounting for 50 per cent of sales. This year however, Glasgow and the West of Scotland have seen higher sales than usual - with 134 £1m+ homes sold in the West, making up 26 per cent of all sales, up by 39 sales from 2022.
Simon Rettie, Managing Director, Rettie & Co said: “Most of the growth in the £1 million plus market has been in Glasgow and the West, while sales in Edinburgh have fallen back by nearly 20 per cent.
"This has been due to a combination of higher interest rates and buyer confidence, particularly in the super-prime market which we classify as houses over £2 million. St Andrews and East Lothian continue to outperform the market with an increasing number of sales over £1m. For 2024, we forecast a gradual improvement in both buyer confidence and the rate of prime sales aligned with a drop in interest rates.”
1. EH3 - Edinburgh New Town & West
The EH3 postcode in Edinburgh (which includes the New Town and West End) is the new number one location for £1m+ sales in Scotland, with 46 sales in 2023, with last year’s top district, EH10 (which includes Morningside) dropping to second spot
2. EH10 - Morningside & Bruntsfield
Morningside, a thriving residential suburb in the South of Edinburgh, is a popular place to live in the Capital. It's the second most expensive post code in Scotland according to Rettie. Photo: mov8
3. EH9 - Blackford & The Grange
EH9, taking in much of Edinburgh south of the Meadows, is the third most expensive post code in Scotland according to Rettie & Co.
4. EH4 - Silverknowes, Ravelston, and part of Stockbridge
The haughty estates of north west Edinburgh come in as the fourth most expensive post code in Scotland