Edinburgh is the richest “pocket” of the UK housing market.
According to research by Keller Williams, the combined average house price and number of homes sold has helped the Scottish capital outstrip rivals. Nearly 11,000 homes have been sold across the city since January 2020 at an average of £280,287, totalling an estimated £3bn in value.
Across the UK, 946,447 homes have been sold since January 2020. As the current average UK house price is £250,772, Keller Williams says this equates to a bricks-and-mortar value of £237.4bn.
But while Edinburgh may be the richest property pocket, the South East has retained its crown as the richest region. A little over 140,000 transactions were completed during the pandemic at an average of £329,849, totalling £46.4bn.
And while the London market has apparently declined, the capital still managed to chalk up over 85,000 transactions, with an average house price of £485,956, equating to £41.5bn, making it the second-richest region.
Wandsworth, with a total of £2.8bn sold, was London’s best-performing borough, taking the number two spot for local authorities after Edinburgh.
Meanwhile, the growing appeal of Cornwall propelled the county to take bronze, with £2.4bn sold. Bromley at £2.2bn and Leeds with £2.175m completed the top five.
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