Scotland business

Average house prices in Scotland up 3.4% on last year

Estate agent's window Image copyright AP

The average house price in Scotland in July was £143,711 - an increase of 3.4% on the previous year, according to the UK House Price Index (UK HPI).

The figure was an increase of 1.3% on the previous month.

Across the UK, the average price was £216,750, which was an increase of 8.3% on the year and 0.4% up on the previous month.

The top local authority in Scotland, in terms of sales volumes, was the City of Edinburgh with 872 sales.

Making up the top five were Glasgow City (826), Fife (491), South Lanarkshire (430) and North Lanarkshire (404 sales).

The biggest price increase over the year was in East Renfrewshire, where the average price increased by 10.7% to £216,382.

The biggest decrease was in the City of Aberdeen, where prices fell by 6.9% to £178,977.

Registers of Scotland's head of products, Rhona Mackay, said: "The volume of residential sales in Scotland in May 2016 was 7,131 - a decrease of 16.8% on the previous year, but up 7% on last month.

"Changes in Land and Buildings Transaction Tax that came into effect on 1 April 2016 for additional dwellings, such as second homes and buy-to-let properties, are likely to have contributed to the increase in volumes seen in March and to the subsequent lower volumes seen in April and May."

More on this story

Related Internet links

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