New research has revealed Scottish house sales increased 18.2% in the fourth quarter of 2015/16 compared to the same time last year.

Data from the Registers of Scotland (RoS) shows 19,802 homes were sold between January and March, the highest volume since 2007/8.

The overall total value of sales rose 8.3% to £3.15 billion, with Edinburgh recording the largest market (£554.5 million: 3.3% increase).

Aberdeen City showed the largest decrease, down 22.7% to £162.7m.

-- Advertisement --

However, while national sales volumes increased, prices decreased by 8.4% to an average of £159,198.

RoS' director of commercial services, Kenny Crawford, said the organisation has seen a 'sustained increase in the volume of sales' throughout the 2015/16 financial year.

"While volumes are up this quarter, prices are down by 8.4 per cent compared to the previous year, bringing the average price to £159,198," he said.

"This time last year, we saw a spike in house prices, with an increase in the number of high value property sales. By comparison, this year has seen an increase in the volume of lower value properties being sold, which may account for this year's lower average price. Future sales statistics will determine whether this is a one-off decrease, or whether this is a trend that will continue."

(LM)