3.5% Increase In Scottish House Prices

New figures have revealed that the Scottish property market is continuing to show further signs on growth.

The statistics, released by Registers of Scotland, cover all residential sales, including those that did not involve a mortgage.

It found that more than 17,800 properties changed hands for the first three months of 2014. This is the highest fourth-quarter figure since 2007/08, while prices also increased by an average of 3.5% over the year, with the average property now selling for £153,352.


Geographically, East Dunbartonshire has the highest average property price at £219,731 – an increase of 4.6% – but the report explained that the housing market was not consistent throughout the country. For example, house prices increased by 24.9% in Inverclyde, yet fell by 14.3% in Midlothian.

Elsewhere, all property types showed an increase in average house price for the quarter, with the largest increase being found in terraced properties (2.6%). The largest sales volumes were in semi-detached properties, which increased by 29.5%.

Kenny Crawford, Registers of Scotland's Director of Commercial Services, is quoted as saying: "This is the third successive quarter that volumes have been up over 22% on the previous year, illustrating consolidated growth in the Scottish property market.

"This is a picture that we're seeing across Scotland, with all local authorities showing an increase in the volume of sales for this quarter compared to the previous year."

(JP)