News In Focus
Property centres report sales leap in quarter to September
Property sales through Scottish solicitors grew by 29% in the three months to September compared with the same period in 2012, according to the organisation representing the country's solicitor property centres.
SPC Scotland's analysis shows that total sales rose from a little over 6,200 during the third quarter of 2012 to more than 8,000 in July-September 2013.
The Perth area saw the biggest increase, up by 54% compared to last year, followed by Edinburgh and the east (up by 45%) and Aberdeen (up by 30%). Only the Borders (down 5.8%) and Fife (down 9.7%) recorded a decline.
Across Scotland the average house price rose by 3.2%, from £176,348 during the third quarter of 2012 to £182,058 during the same period this year. Here Borders led the way with a 20.5% rise, the next highest being Highland at 3.8% and Aberdeen at 3.4%. However the Moray average was down 14%, Fife down 9.3% and Dumfries & Galloway down 8.8%.
Peter Ryder, chairman of SPC Scotland commented: “There is growing confidence among solicitor estate agents that the property market is starting to gather momentum – at least in terms of sales. We now expect Registers of Scotland to report total residential sales in this financial year of around 80,000 transactions. That would mark an improvement from just over 72,400 transactions in 2012 and would be the best year for property sales since 2008.
“Although the number of sales has increased sharply, there are no signs of significant price rises across most of Scotland. Property values are heavily influenced by local economic conditions and different parts of the country will experience different trends in prices, but across the country as a whole, prices remain broadly stable.”