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Scottish house prices at all time high, Registers' figures show
Scottish house prices have reached their highest level since records began, figures published today by Registers of Scotland for the Juiy-September 2014 quarter reveal.
The average house price across Scotland for the quarter was £170,190, up 5.2% on the same period in 2013, and the highest figure since RoS began compiling quarterly house price statistics in 2003.
Total sales volume was also up, by 9.1% on the corresponding quarter in 2013, and reaching the highest for since quarter one of 2008-09.
Renfrewshire recorded the highest percentage rise in average price compared with the same quarter of the previous year, up 17.2% to £137,072. The City of Edinburgh recorded the highest average at £235,402, a rise of 5.6% compared with the same quarter in the previous year. Only four areas showed a percentage fall in average price, led by Scottish Borders with a drop of 5.7% to £164,448.
East Dunbartonshire showed the largest percentage rise in the number of sales, with an increase of 29.1% compared to the same period in the previous year.
All property types showed an increase in average house price in this quarter, the biggest increase being in terraced properties at 5.3 per cent. The largest sales volumes came from detached properties, which went up by 11.2 per cent on the previous year.
Registers of Scotland’s director of commercial services, Kenny Crawford, commented: “This is the second consecutive quarter in which the annual increase in average house price has risen by over 5%, bringing the average property price above pre-economic downturn levels, to just over £170,000. This, combined with the increase in sales volumes, has brought the total value of sales across Scotland to just under £4.5bn for the quarter, up 14.8% on the same period last year.”
Click here to view the full statistical release.