Scotland’s market expansion at the top-end resulted in 300 transactions taking place above £1 million in the 12 months ending March 2021, a record number for this time period. With Edinburgh continuing to dominate this market, some areas
have seen more activity than ever before.

Edinburgh

The capital recorded 171 transactions above £1 million, including Scotland’s only three above £4 million. The majority of million pound sales were in the inner suburbs of Grange, Morningside and Merchiston, where the annual number remains almost unchanged at 46.

Demand for family homes resulted in a jump from 28 to 47 across the suburbs of Murrayfield, Ravelston, Barnton, Cramond and Trinity. Top-end sales in central areas may have fallen slightly, but four of them took place on Great King Street in the heart of Edinburgh’s New Town, more than any other street.

Outside Edinburgh, East Lothian’s record 21 sales were mainly concentrated in North Berwick, Gullane and Haddington.

Greater Glasgow

The city area of Glasgow saw a record 20 sales above £1 million over the last year, mostly in the West End and Park areas. Meanwhile, sales in the suburbs of Newton Mearns, Giffnock, Bearsden and Kilmacolm increased from 14 to 22 due to demand for more space.

Heartland

Million pound sales in Scotland’s heartland have steadily risen since 2015, reaching 28 in the 12 months ending March 2021. Notable areas of activity included St Andrews, Comrie, Aberfeldy and Bridge of Allan.

Rest of Scotland

Whereas top-end activity in the North East remained steady, activity in the rest of Scotland, though limited, was at its highest level in over a decade, with a number of sales in the Ayrshire hotspots of Ayr and Troon.

Size Matters

With outside space currently top of home movers wish lists, the amount of acreage at the top-end is vital.

With an average of 18 acres, our analysis of 41 country house sales at £1 million and above over the last year showed that a decent amount of land with secondary buildings such as cottages rather than just a principal house on its own is one of the main drivers of demand, especially for buyers from outside Scotland.

NEARLY 90% OF MILLION POUND SALES IN GLASGOW OVER THE LAST 10 YEARS HAVE TAKEN PLACE IN THE CITY’S WEST END AND PARK AREAS