Property prices in Edinburgh increased by 1% in the second quarter of the year, taking the annual price rise in the city to 5.7%.

This follows a rise of 1.3% in the first quarter of the year, according to data from the latest Edinburgh City Index from property firm Knight Frank.

Over the three months to June, homes in the north of the city and the area around the New Town and West End areas enjoyed the greatest growth, with prices increasing in value by 1.5% and 1.2% respectively.

Stock levels increased over the course of the quarter, albeit from a very low base, but Knight Frank says it is an indication that some vendors, who have been waiting on the sidelines, are deciding to enter the market. The increase in available stock helped contribute to a 31% increase in sales in the second quarter of 2014, compared to the same three month period last year.

Edinburgh accounted for more than half of all £1 million plus sales in Scotland in the first three months of 2014, according to data provided by the Registers of Scotland. The city is the traditional hub of the prime market in Scotland and over the last 12 months has accounted for 55% of all £1 million plus transactions.