Registers of Scotland: House prices rise by 5.9%

Glasgow flats Flats showed the biggest increase in average price in the last quarter

Related Stories

The average price of a house in Scotland has risen by 5.9% in the past year, according to official figures.

Registers of Scotland said the average cost of a home in the three months to June was just over £162,000.

The total value of sales across Scotland registered in the quarter increased by 29.7%, compared with a year ago, to stand at almost £3.95bn.

The number of sales also increased by more than 22%, indicating sustained growth over the past year.

A total of 24,351 sales were registered across Scotland during the latest quarter - the highest volume for the same quarter since 2008/09.

The highest percentage price rise was recorded in Renfrewshire, with an average price of £128,138. That represented an increase of 16.8% over the year.

East Renfrewshire recorded the highest average price of £232,987, a rise of 10%.

The largest percentage fall in price was again in Midlothian, which showed a drop of 6.3%. The average price in that area was just over £169,000.

All property types saw an increase in average price in the quarter, with flats showing the biggest increase at 5.3%.

Detached properties showed the biggest increase in sales volumes of 23.3%, while semi-detached homes and flats showed the next biggest increase at 22.2%.

West Lothian again showed the largest percentage rise in the number of sales, with an increase of 39.1%.

The City of Edinburgh recorded the highest sales volume, with 2,944 residential house sales - an increase of 30.6% on the previous year.

'Sustained growth'

Registers of Scotland's director of commercial services, Kenny Crawford, said: "This is the fourth consecutive quarter that volumes have 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."

The Registers of Scotland figures cover all residential sales, including those that do not involve a mortgage.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Scotland business stories

RSS

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.