This item was published during the term of a previous administration that ended in April 2007
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Property prices over last quarter
16/05/2006
The average price for a residential property in Scotland decreased by 1.2 per cent in the last quarter (January to March 2006), according to figures released today by Registers of Scotland.
The new £124,481 average compares with a figure of £125,934 in the previous quarter (October to December 2005) and represents an increase of 8 per cent over the same quarter last year.
The highest figure is in the Lothian region, where the average price for properties registered is £160,110, an increase of 0.4 per cent compared to the last quarter and up 6.4 per cent on the same quarter the previous year.
The highest year-on-year increase, at 12.5 per cent, is in the South West Scotland area, where the average house now sells for £109,407.
The Glasgow area remains the largest market with sales of almost £1.3 billion for the period, which is an increase of nearly £270 million or 26.7 per cent over the same period last year.
The total value of sales across Scotland registered during the quarter is almost £4 billion equating to an increase of nearly £750 million or 23.6 per cent over the same quarter last year.
The 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, in pounds sterling:
Average residential property prices in Scotland |
Region | Jan - Mar 2005 | Jan - Mar 2006 | % increase |
Central | 104,558 | 114,040 | 9.1% |
Grampian | 109,144 | 117,548 | 7.7% |
Highlands and Islands | 106,079 | 118,912 | 12.1% |
Lothian | 150,532 | 160,110 | 6.4% |
Scottish Borders | 118,926 | 130,622 | 9.8% |
South West Scotland | 97,252 | 109,407 | 12.5% |
Glasgow Area | 110,056 | 117,600 | 6.9% |
Unallocated* | 146,180 | 160,978 | 10.1% |
SCOTLAND | 115,283 | 124,481 | 8.0% |
*Unallocated sales are those which could not be accurately located in a local authority area
This is the twelfth in a series of quarterly reports tracking the movement of property prices in Scotland and the focus is on the activity in seven broad geographic regions across the country. The method of calculating the figures has been independently audited to ensure that the information is accurate and comprehensive.