Houseprices rose 3.5 per cent in the first quarter of 2015-16 compared to the same periodin the previous year, according to official statistics published today by Registersof Scotland (RoS).
Theaverage house price in Scotland from April to June was £167,765, the highestfigure recorded for this quarter since RoS began compiling quarterly statisticsin 2003.
RoS'commercial services director, Kenny Crawford, said: "The City of Edinburghrecorded the highest average house price at £237,286, a rise of 4.4 per cent onthe previous year. This percentage increase is slightly higher than theScotland average of 3.5 per cent.
"AcrossScotland's local authority areas the picture is more mixed. The highestpercentage rise was recorded in West Dunbartonshire, where the average price increased10.1 per cent to £120,822, while the largest percentage fall in price was inEast Renfrewshire, which showed a 7.0 per cent drop to £216,565."
Thetotal volume of sales across Scotland was 24,685, an increase of 1.6 per centon the same quarter in the previous year. This is the highest volume of salesfor this quarter since 2008.
GlasgowCity showed the largest percentage rise in the number of sales, with anincrease of 17.6 per cent. This brought Glasgow City above the City ofEdinburgh in terms of volume, with 3,035 residential house sales compared toEdinburgh's 3,002. This is the first time that the volume of Glasgow sales haveexceeded those in Edinburgh since quarter four of 2012-13.
Thebiggest percentage decrease in the number of sales was seen in Aberdeen, whichfell 18 per cent to 1,263.
Thetotal value of sales across Scotland increased by 5.1 per cent compared to theprevious year to over £4.14 billion. The City of Edinburgh remains the largestmarket, with sales of over £712 million for the quarter, up 6.4 per cent. WestDunbartonshire recorded the highest increase in value, up 27 per cent to over£45 million.
Flatsshowed the biggest increase in both average price and sales volume; prices rose4.7 per cent to £133,790, while the number of sales increased by 6.9 per cent.Meanwhile, detached and terraced properties both saw decreases in average priceand volume. Detached prices fell by 0.2 per cent, with volumes down 2.9 percent, while terraced properties showed a 0.3 per cent fall in price and thelargest decrease in volume of sales at 3.7 per cent.
Thesestatistics cover all residential sales, including those that did not involve amortgage.
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- For the full picture and detail, read the Registers of Scotland Official Statistical Report. Information available for comparison includes average house price, median price, number of sales and value of sales by local authority area during the quarter (April to June 2015), as well as the previous quarter and the same period in 2014.
- The statistics have been produced in accordance with the Code of Practice for official statistics. The method of calculating the figures has been independently audited to ensure that the information is accurate and comprehensive.
- RoS has developed a methodology for delivering statistics based on house type. This covers four house types: detached, semi-detached, terraced, and flatted (encompassing all types of flats, maisonettes, tenements and four-in-a-block properties).
- RoS began compiling quarterly statistics on the housing market with the completion of the extension of the Land Register to all counties in Scotland in April 2003.
- Registers of Scotland (RoS) is the government department responsible for compiling and maintaining registers relating to property and other legal documents in Scotland. RoS records and safeguards the rights of the individual while providing open access to information on the registers.
- These figures cover all residential sales, including sales for cash not involving a mortgage. Approximately 25 per cent of sales fall into this category.