Gloomy outlook on property market in Midlothian

The property market in Midlothian experienced one of its bleakest periods at the close of 2011.

Data recently released by the Registers of Scotland show that the number of house sales and the average house price both fell by more than nine per cent between October and December.

During that quarter, 263 homes were sold, compared with 292 for the same period in 2010. There was a rise in sales from July to September, when 239 homes were sold.

The only glimmer of hope was in the number of flats sold, although average prices fell.

The average house price also suffered a hit – falling by 9.4 per cent from £173,119 in October to December 2010 to £156,830 for the same period in 2011.

Full story in the February 23 edition of the Advertiser - available now.