Scotland’s top postcodes revealed as sales of £1 million-plus homes dip
“Forward indicators suggest a potential recovery in high-value transactions as conditions stabilise” – Simon Rettie
Scotland’s £1 million-plus home sales fell 7 per cent last year as economic uncertainty and the disproportionate impact of higher transaction taxes impacted the top end of the market.
The total number of sales of properties costing £1m or over amounted to 478, down from 514 in 2024, according to upmarket estate agency Rettie. The market was also said to be impacted last year by proposed “mansion” taxes.
Edinburgh topped the list with 234 sales in 2025, but transaction levels were down against the previous year (287). Sales of £1m-plus homes in the rest of the east were marginally down at 119, versus 120 in 2024.
Glasgow almost doubled the number of £1m-plus sales during the year, up to 51 from 27 in 2024. Rest of the west sales were up marginally at 62, versus 61 in 2024, according to the firm’s latest report.
Looking at Scotland’s top postcodes, Rettie’s study reveals that EH3 (Edinburgh New Town and West End) had the highest number of sales exceeding £1m in 2025, retaining its top position from the previous year. However, EH3 and Edinburgh’s other higher value areas (EH4, EH10, EH12) have seen a pullback in sales of between 10-30 per cent compared to 2024 levels.
EH10 (Morningside) registered the most valuable property sale in Scotland in 2025, at just under £6m. EH9 (The Grange) was the only volume Edinburgh postcode not to have a reduced number of £1m-plus sales during 2025.
In East Lothian, EH39 (North Berwick) experienced strong growth of 30 per cent in £1m-plus sales, largely due to increased turnover within the exclusive Archerfield estate.
Glasgow and its commuter districts including G46 (Giffnock), G41 (Pollokshields), and G71 (Bothwell) all doubled their number of £1m-plus transactions year-on-year as stronger price growth across the city in recent years has pulled more higher value properties into the price band.
Aberdeenshire saw only seven £1m-plus sales during the year, down from 11 in 2024, while the rest of the north also registered a decline, down to five transactions against eight the previous year.
The report by Rettie’s research unit found that while the top end of the market softened in 2025, transaction activity in the price brackets below £1m and above £2m remained stable. There were 58 sales above £2m in Scotland in 2025, the same number as in the previous year.
Rettie’s managing director Simon Rettie said: “While the Scottish prime residential market experienced a small but notable contraction at the £1m-plus level, activity in the price segments below £1m remained comparatively stable, reflecting continued underlying demand and resilient buyer confidence. The £2m-plus market has also been more stable, highlighting that buyers at the very top of the market are still there at very similar numbers.”
He added: “Global economic volatility persists, influencing sentiment across all property markets. Nevertheless, forward indicators suggest a potential recovery in high-value transactions as conditions stabilise.
“Scotland’s prime residential sector is well positioned to benefit from this shift, supported by increasing buyer interest in secure, high-quality living environments and the country’s growing reputation as a desirable long-term location.”
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