Scotland business

Registers of Scotland: House prices up by 3.6% in 2015

Terraced houses Image copyright Registers of Scotland

House prices in Scotland rose by 3.6% last year, according to official figures.

Registers of Scotland (RoS) said the average price of a residential property had reached £169,402.

Overall property sales exceeded £16.5bn in value in 2015 - an increase of 8.2% on the previous year.

The number of house sales across Scotland also increased by 4.5% to 97,701. It was the highest annual figure since 2008.

The local authority area with the highest average price was Edinburgh, at £238,036 - an increase of 4.9% on 2014.

Aberdeen saw house prices rise by an average of 3.3% to £220,641, while Glasgow experienced a 5.9% increase, to reach £138,995. Prices in Dundee rose by 4% to £131,525.

Meanwhile, the average price in the Scottish Borders local authority area was £173,506 - an increase of 3.1%.

Edinburgh recorded the largest number of sales in 2015, with 11,991. This was 8.3% up on the previous year.

The capital was closely followed by Glasgow City, which saw sales rise by 12.2% to 11,616.

East Renfrewshire experienced the largest annual growth in the number of sales (13.1%), but was the only area to show a slight fall in average price. It fell by 0.6% to £227,369.

Meanwhile, Aberdeenshire saw the largest drop in volumes, falling by 11.8% to 5,108.

While the average price for all property types increased in 2015, semi-detached houses showed the largest rise - up 3.4% to £157,995.

Detached properties had the highest average price, at £249,921.

Registers of Scotland's director of commercial services, Kenny Crawford, said: "The total value of the residential property market continues to make a significant contribution to the Scottish economy."

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