Scottish house prices continue downward trend

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The last quarter saw the lowest number of homes sold since records began in 2003

The downward trend in Scottish house prices and the number of homes sold continued over the summer, according to official figures.

The average cost of a home fell by 2.3% between July and September, compared with a year ago, to stand at £159,310.

Registers of Scotland data showed nearly 20,000 houses were sold during the quarter - but that was the lowest number since records began in 2003.

The figures cover all sales, including those that do not involve a mortgage.

The highest percentage price rise was recorded in East Dunbartonshire, which showed an 8% increase on last year to reach £224,156.

Edinburgh recorded the highest average price of £228,719, while Argyll and Bute saw the largest percentage price fall (12.7%) to stand at £143,590.

Glasgow registered the most sales in the latest quarter, reaching almost 2,200. Scottish Borders showed the largest percentage fall in the number of sales with a drop of 21.2%.

Average prices fell across all property types, with the biggest drop (4.5%) being recorded in detached properties.

Semi-detached properties recorded the smallest fall, at 1.6%.

'Lowest sales'

Registers of Scotland's director of commercial services, Kenny Crawford, commented: "The national picture for July-September 2012 shows 19,868 properties were sold.

"This is the lowest volume of sales in this quarter since records began in 2003 and is less than half of the number of properties sold in Scotland when the market was at its peak in 2007/08.

"For first time buyers, the 2.3% drop in average values may be welcome news."

He added: "As ever, taking that first step on to the property ladder is easier to achieve in some areas than others and our statistics can help potential buyers work out where these are."

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