Property market cooler in final 2014 quarter, Registers figures show
The average price of a residential property in Scotland increased by 3.4% during the three months from October to December 2014, compared with the same period the previous year, according to Registers of Scotland statistics published today. The average price of a residential property for this quarter was £165,197.
While the increase is down on the previous two quarters, during which the average price increased by over 5%, this figure is the highest recorded for this quarter since Registers of Scotland began compiling quarterly statistics in April 2003. The highest percentage rises were recorded in Shetland, North Ayrshire and Dumfries & Galloway, where average prices rose by 17.6%, 17.1% and 10.6% respectively compared with the same quarter the previous year. Aberdeenshire recorded the highest average price, at £232,331, up 5.0% compared with the same quarter the previous year.
Six areas showed an average decrease, the largest percentage fall in price being in Falkirk, with a drop of 4.3%.
The total volume of sales across Scotland registered during the quarter was 25,413, a decrease of 0.3% on the same quarter the previous year. This is the first decrease in sales volumes since quarter two of 2012-13. The City of Edinburgh again recorded the highest sales volume, with 2,924 residential house sales, down 1.5% on the previous year.
All property types, with the exception of detached properties, showed an increase in average price in this quarter, the biggest rise being in semi-detached properties, at 5.5%. Detached properties showed a decrease of 0.3%.