This item was published during the term of a previous administration that ended in April 2007
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Property prices continue to rise
27/08/2004
The average price for a residential property in Scotland
increased again in the last quarter (April to June) and is
now £108,238, according to figures released today by
Registers of Scotland.
The increase is a rise of 19.3 per cent from the same
quarter last year and an increase of 1.2 per cent on the
previous quarter.
The highest figure is in the Edinburgh area where the
average price paid is £144,685, an increase of 3.5 per cent
on the previous quarter.
The highest year-on-year increase, at 29 per cent, is in
South East Scotland where the average house now sells for
£117,655.
The Glasgow area remains the largest market with sales
of a little under £1.1 billion for the period, which is an
increase of over £230 million or 26.7 per cent over the
same period last year.
The total value of sales across Scotland for the quarter
is £3.45 billion. This is an increase of £350 million over
the last quarter and suggests that the total residential
property market in this financial year could be around £14
billion.
These figures include residential sales for cash, where
there is no mortgage, which occurs in more than 20 per cent
of transactions.
Breakdown of the average price by area is as follows:
Edinburgh area - £144,685 South East Scotland - £117,655
Glasgow area - £104,292 Grampian - £99,042 Central Scotland
- £98,261 Highlands and Islands - £94,038 South West
Scotland - £91,219.
Further details of the quarterly report (which covers
the period April to June 2004) are available from Registers
of Scotland at
http://www.ros.gov.uk/pressreleases.html
This is the fifth in a series of quarterly reports
tracking the movement of property prices in Scotland and
the focus is on the activity in seven geographic regions
across the country. The information has been independently
audited to ensure that it is accurate and
comprehensive.