A new report has said the Scottish housing market has reached "a turning point".

The report, published by S1 Homes, also said that there is no longer a "reality gap" in most areas throughout Scotland. The 'reality gap', is the difference between what sellers want to sell their property for, and the price they actually achieve.

In its quarterly house price report, the website found that properties in Scotland are now typically selling for £8,000 more than the asking price.

Looking at the different property types, terraced houses, on average, sold for £20,000 more than their asking price, compared to £11,000 the previous quarter. This meant that the average selling price increased by £7,000 to £139,580, while the average asking price fell by around £2,000 to £119,515.

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Flats are selling for over £27,000 more than their asking price, with the average selling price of flats rising by over £8,000 to £135,069, while the average asking price has fallen by less than £1,000 to £107,674.

For a second consecutive quarter, semi-detached properties are also selling for more than their asking price. The report said that the average selling price has now increased by £6,500 for the quarter to £157,118 while the average asking price has fallen by more than £1,500.

Detached houses are the only properties typically selling for less than their asking price.

The Reality Gap has narrowed, the report suggests however, with detached properties selling for £31,000 less than their asking price, compared to £37,000 in the previous quarter.

There is still a gap that exists in some areas of the country, with Argyll and Bute and South Lanarkshire being examples.

Ewan Stark, Managing Director, S1 Homes, is quoted as saying: "We have reached a turning point in the Scottish property market.

"Buyers are now prepared to pay more than they have been for quite some time and sellers at the lower end of the market are seeing their asking prices being surpassed more notably.

"It's still a buyer's market when looking for a detached property but the gap is narrowing so we could see a very different picture in 2015."

(JP/IT)