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Property market grew 4% in 2017, Registers' figures reveal

7 March 2018

Scotland's residential property market grew by around 4% in 2017, according to the annual review just published by Registers of Scotland.

Sales volume saw an overall rise of 4.2%, while the average house price was up by 4% over the year, to £172,779.

Registers said the figures continued the generally upward trend seen since 2012. East Renfrewshire and the City of Edinburgh showed the highest average prices in 2017 at £252,870 and £249,651 respectively. The largest annual changes were seen in South Lanarkshire and Glasgow City, with increases of 8.6% and 7.8% respectively. Five areas saw a slight average decrease, but none more than 1.6%, the figure for Inverclyde.

With total sales standing at 103,617, growth was experienced across most of the country, with Na h-Eileanan Siar and East Lothian showing the largest year-on-year increases, at 16.8% and 16.6% respectively. Only three local authorities reported decreases: Clackmannanshire (down 7.6%), Midlothian (2.0%) and Dundee City (1.0%), though in each area average prices rose slightly. The City of Edinburgh saw 1.7% sales growth and Glasgow City 3.0%. Aberdeen sales volume was up 1.3% but average prices declined by the same figure

The value of the Scottish property market increased by 8.5% compared to 2016, to £17.9bn.

Click here to access the full report.

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