Date Published 02 May 2012

Buyers are taking little notice of the house price valuation given in Home Reports – the Scottish version of HIPs.

Only 16% of properties sold in the first three months of this year achieved their Home Reports valuation, says the Edinburgh Solicitors Property Centre.

On average, homes have gone for 6% less than the valuation figure.

It says the average price in Edinburgh during the first quarter of this year was £195,221 – 5.9% less than last year.

The ESPC says that sellers are showing a greater willingness to accept ‘slightly lower' offers, which has led to a 12% rise in sales.