Prices of prime Edinburgh properties fell by 0.5% in the final three months of last year, a result of the introduction of a new property tax in Scotland that replaced UK stamp duty there, figures from Knight Frank showed.
Prices in the city rose by 1.5% on the year, while prices in Scotland as a whole edged just 0.1% higher.
Knight Frank’s head of sales in Edinburgh, Edward Douglas-Home, said the tax had had a damping effect but that well-located properties that were realistically priced continued to attract good interest.
