Scotland's Property Prices Increased Over Last Quarter

Registers of Scotland (RoS) issued figures showing the average price of a residential property in Scotland increased by 6.1% in the third quarter (July to September) of 2009 and is now £154,453.

This is a decrease of 3.6% when compared with the same period in 2008.

The volume of sales transactions increased by 23.8% over the third quarter compared to the previous quarter (April to June) of this year, although this is a decrease of 19.8% when compared to the same quarter last year.


Sheenagh Adams, the Keeper of the RoS, said: "RoS is the only organisation that holds the full picture on what’s happening in the property market as we register every sale and property transfer in Scotland. These latest figures show signs of improvements in the property market although we received nearly five thousand less transactions than the same period last year."

Annually, average property prices decreased over the year in all but four of the 32 local authority areas. Excluding those local authority areas with less than 1% of all Scotland sales volume, the largest rise was 2.1% in Dundee City and the largest fall was 18.3% in Inverclyde.

The total value of sales across Scotland registered during this quarter was just over £3,103 million, a decrease of 22.6% over the same quarter last year but an increase of 31.4% over the previous quarter this year.

(CD/BMcc)