News In Focus
Sales and volume rise in Registers' latest quarterly property market figures
Scotland's housing market showed year-on-year growth in the latest quarter in both average selling prices and sale volumes, according to new figures from Registers of Scotland.
Statistics for the July-September 2017 quarter show the nationwide average price of a house rising from £170,383 in the same period in 2016 to £177,978, up 4.5%. Price growth on the previous quarter was 4.1%.
Sale volumes were up 7.2% year on year, but 7.6% on the previous quarter, despite a decline in July.
Nearly all parts of the country shared in the growwth. The only areas to show average price falls over the 12 months were Aberdeenshire (by 2.4%; Aberdeen City managed 0.6% price growth), Dundee City (1.1%), Inverclyde (4.2%) and Na h-Eileanan Siar (3.8%). Strongest performing were Clackmannanshire (up 16.4%), Stirling (up 9.4%), Shetland (up 8.9%) and Orkney up 8.1%). Glasgow prices rose 6.6% on average and Edinburgh by 6.3%.
Clackmannanshire however showed one of the biggest falls in volume, down 14.2% and second only to Midlothian, where prices rose by 7.4% but volume was down by 18.2%. Other volume declines compared with 2016 were Dundee City (3.8%), East Renfrewshire (7.3%) and Inverclyde (1.2%). Na h-Eileanan Siar saw 28.1% volume growth, East Ayrshire 20.8%, and East Lothian and Dumfries & Galloway were both up by 19.9%. Glasgow City saw 7.7% growth, Edinburgh 6.6% and Aberdeen City 0.7%.
Commenting on separate figures released for September, Registers of Scotland business development and information director Kenny Crawford said: “Average prices in Scotland continued their upward trend in September with an increase of 3.1% when compared to September 2016. Average prices have been steadily increasing each month since March 2016, when compared with the same month of the previous year."
Click here to access Registers' property statistics.