News In Focus
6 November 2009
Signs of life in property market
Registers of Scotland figures show the average price of a residential property in Scotland increased by 6.1% in the third quarter (July to September) of 2009, as compared with the previous quarter, and is now £154,453. This is a decrease of 3.6% when compared with the same period in 2008.
All but six local authority areas showed an increase on the previous quarter.
The volume of sales transactions increased by 23.8% over the same quarter compared to the previous quarter of this year, although this is a decrease of 19.8% when compared to the same quarter last year.
Sheenagh Adams, the Keeper of the Registers of Scotland, said: “These latest figures show signs of improvements in the property market although we received nearly 5,000 less transactions than the same period last year.”
For the first time in years the average price in Edinburgh was not the highest in the country, as the average recorded for East Renfrewshire was £214,469, compared with £208,221 in the capital.
To view the Registers of Scotland figures in depth, click here