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30/04/2013

House Prices Continue To Fall For 2013

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House prices have fallen in Scotland over the past year despite more homes changing hands.

According to official statistics from the Registers of Scotland, in the last quarter, homes cost an average 0.4% less than the same period last year.

The information also revealed a 5% increase in the number of residential properties being sold.

In the first three months of 2013, the average selling price of a home was £148,174 - a fall of 4.3% from the previous quarter - while 14,567 residential properties were sold between January and March of this year.

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Edinburgh City, East Dunbartonshire and East Renfrewshire had average values of more than £200,000, while Midlothian saw the largest year-on-year jump in prices, with homes selling for 9% more than the same period in 2012.

Glasgow saw the largest number of properties sold in the first three months of the year, with 1,666, with Edinburgh also seeing an increase in sales.

When it came to a fall in properties sold, East Ayrshire showed the largest decline with 9.4% fewer homes changing hands compared to the same period last year.

House prices also fell, as they did in Inverclyde and West Dunbartonshire.

Registers of Scotland's Director of Commercial Services, Kenny Crawford, said: "It is encouraging to see a rise in volumes and while the average price has fallen, it is not a substantial drop.

"We are seeing some interesting figures from areas like Midlothian, where the volumes and average price have both increased.

"There've been a number of new developments in areas like Dalkeith and Gorebridge, which are likely to be contributing to this upward trend."

(JP/CD)

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