Scotland business

Registers of Scotland: House prices show steady growth

Glasgow tenement Image copyright Thinkstock
Image caption Glasgow saw the highest volume of sales in October, according to the latest figures

Scottish house prices have continued to show steady growth over the past year, according to figures released by Registers of Scotland.

Its latest monthly UK House Price Index showed the average price of a property in October was £143,131.

That was 4% higher than a year ago and 1% up on the previous month.

The UK average price in October was £216,674 - 6.9% higher than the same month last year and 0.1% up on September.

The top five local authorities in terms of sales volumes were Glasgow City (1,031 sales), City of Edinburgh (1,020), Fife (564), South Lanarkshire (520) and North Lanarkshire (415).

The biggest price increase over the last year was in East Renfrewshire, where the average price rose by 17.7% to just over £222,500.

The biggest decrease was again in the City of Aberdeen, where prices fell by 8.7% to £172,870.

'Significant change'

Across Scotland, all property types showed a rise in average price when compared with the previous year, with detached properties showing the biggest increase of 7.1%, to £251,709.

Registers of Scotland director of commercial services Kenny Crawford said: "The average price of a residential property in Scotland continues to show steady growth, with month-on-month increases in every month this year apart from February and August.

"This is a significant change from last year when there were decreases month-on-month in six out of the 12 months.

"Average prices have been steadily increasing on a year-on-year basis, too, with only one drop in average price being recorded in the past three years."

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