Scotland business

Scottish house prices rise but sales volumes fall

Tenement buildings in Glasgow Image copyright Getty Images

The average cost of a home in Scotland rose by 3.7% last year to just over £179,100, according to new figures.

The increase during the calendar year continued a generally upward trend seen since 2012.

But Registers of Scotland recorded a 2.3% year-on-year fall in the volume of sales, to 100,998. Decreases were seen in 22 out of 32 local authority areas.

Overall, the market value of Scottish property sales increased by 1.3% in 2018, to £18.1bn.

City of Edinburgh and East Renfrewshire had the highest average prices at £266,118 and £259,577, respectively.

The largest annual changes were seen in Midlothian (+8.7%), Falkirk (+8%) and North Lanarkshire (+8%).

Of Scotland's city local authorities, Glasgow recorded the highest volume of sales, climbing above Edinburgh for the first time since 2011.

But only the city of Dundee saw a rise in sales volumes, with an increase of just 0.1%.

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