News In Focus

RoS figures show house sales at new low

31 October 2012

Scottish property sales in the July-September quarter were at the lowest level for the time of year since official records began in 2003, according to the latest figures from Registers of Scotland.

The total of 19,868 properties sold was 2.1% below the same period last year, and less than half that when the market was at its peak in 2007-08.

The average price of a home in Scotland also dropped by 2.3%, to £159,310.

Registers of Scotland's statistics cover all residential sales, including those that did not involve a mortgage.

Glasgow had the most sales at 2,198 slightly ahead of Edinburgh, but prices in Edinburgh grew by a modest 1.4%, whereas in Glasgow the average value dropped by 5.1%. Edinburgh remains the most expensive place to buy in Scotland, followed by East Dunbartonshire and East Lothian.

Director of Commercial Services Kenny Crawford commented: “Figures varied widely from local authority area to area. East Dunbartonshire saw a significant 10.5% rise in volume of sales, alongside an 8% increase in average price, making it one of the strongest performing areas in Scotland.

“For first time buyers, the 2.3% drop in average values may be welcome news. As ever, taking that first step on to the property ladder is easier to achieve in some areas than others and our statistics can help potential buyers work out where these are.”

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