Scotland

Average Scottish property prices hit all-time high

View of Edinburgh
Image caption The City of Edinburgh reached its highest ever average property price at nearly £229,000

Average property prices in Scotland have hit an all-time high, according to official figures.

The last quarter saw the average property price rise to £163,360, which was the highest on record and an increase of 5.8% on the same period in 2009.

This was despite sales volumes being only half of what they were at their peak in 2007.

The figures were released by Registers of Scotland (RoS).

A total of 28 of Scotland's 32 local authority areas saw an increase in average prices.

Eight of them - Aberdeen City, Aberdeenshire, East Lothian, East Renfrewshire, City of Edinburgh, Inverclyde, Scottish Borders and West Lothian - returned their highest ever average price.

However, East Ayrshire, Eilean Siar (Western Isles), Moray and Perth and Kinross local authorities experienced a fall in average property prices.

Busiest days

Kenny Crawford, head of commercial services for RoS, said: "The number of properties sold over the last quarter is up on the same quarter last year by 4.9%, a difference of nearly 1,000 sales, but this is still barely half of the number of properties that were changing hands in the busiest days for the property market in 2007.

"Interestingly, it is the detached and semi-detached properties that have recorded the highest increase in value while the volume of sales has been strongest for semi-detached and flats."

The City of Edinburgh reached its highest ever average property price at £228,697, up by 9.9% on the same period last year, while the average price in the City of Glasgow increased by just 2.9% to £143,255.

RoS is the government department responsible for compiling and maintaining registers relating to property and other legal documents in Scotland.

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