Scotland
UK
Ireland
London
The average house price in Scotland has increased by 5.9% over the last year; that is according to official statistics released today (29 July), by Registers of Scotland.
The report said that the average cost of a home, in the three months to June, is now £162,122.
The Scottish property market has maintained sustained growth over the year; in the first quarter, the number of residential properties sold increased by 22.4% compared to the same period in 2013.
From April to June this year, 24,351 properties changed hands – the highest number recorded for this quarter since 2008/09. The figures from Registers of Scotland covers all residential sales, including those that did not involve a mortgage.
When it comes to location, Renfrewshire recorded the highest percentage rise in average prices; up 16.8% to £128,138, when compared with the same quarter the previous year. The largest percentage fall in price was in Midlothian, which plummeted 6.3% to an average price of £169,014; while East Renfrewshire recorded the highest average at £232,987, an increase of 10.0% compared to last year.
The report also found that the total value of sales across Scotland in the quarter increased by 29.7%, to just under £3.95bn. The City of Edinburgh remains the highest value market with total sales of just under £670m for the quarter, an increase of 39.4% from the same period last year.
All property types showed a rise in the average house price, the largest increase being in flatted properties (5.3%%), while the largest sales volumes came from detached properties, which rose by 23.3% on the previous year.
Kenny Crawford, Registers of Scotland's Director of Commercial Services, said: "This is the fourth consecutive quarter that volumes have been increased in excess of 22% on the previous year, demonstrating sustained growth in the Scottish property market. All local authorities showed an increase in sale volumes, with the exception of Aberdeen City, which decreased by 2.1%.
"It's also the first time in almost four years that we've seen the average house price rise by more than 5%, bringing the average residential property price to £162,122."
(JP/CD)
