More homes on 'millionaires' row'


There has been a sharp rise in houses selling for £1m or more



Sales of £1m properties in Scotland rose by 138% in 2007 according to research from the Bank of Scotland.
Although they far outstripped the 3% rise in total property sales £1m properties accounted for just 0.2% of all Scottish property sales in 2007.
In 2006 144 £1m properties were sold in Scotland but that rose to 343 £1m properties in 2007.
Edinburgh came second only to London in the number of properties being sold for £1m or more last year.
It also saw a 30% increase in the number of homes being sold for £2m or more. However the capital's overall share of million pound homes in Scotland has gone down.
Figures show that there has been a seven-fold increase in the number of £1m property sales in Scotland since 2003 while there has been a nine-fold increase in the number of properties selling for £2m or more.
Total £1m property sales in Great Britain rose by 36% in 2007 to 8257. Martin Ellis chief economist at the Bank of Scotland said: "Although there has been a marked increase in the number of million pound property sales in Scotland since 2003 Edinburgh continues to account for the significant majority of £1m sales. "Nonetheless Edinburgh's share of all million pound property sales has declined over recent years with a number of million pound property clusters starting to appear across Scotland around places like Glasgow and Perth and Kinross."