Property sales at highest volume since slump, Registers figures show
Sales of residential properties in Scotland in the latest quarter reached their highest volume since the 2008 slump in the property market, according to Registers of Scotland figures published today.
Statistics for July-September 2015 (Q2 of the 2015-16 financial year) showed that sales across the country totalled 28,019, an increase of 6.5% compared with the same period in the previous year, the highest volume of sales for any quarter since Q1 of 2008-09.
The highest percentage rise (23.1%) was recorded in West Lothian, though Edinburgh City, which was up by 9.6%, continued to record the highest volume of sales at 3,530. The largest percentage fall in volume of sales was in Aberdeenshire, down 13.5% compared to the same quarter last year, reflecting the fall in the oil market. Aberdeen city was down by 6.4%. Nine of the 32 local authority areas in Scotland showed a fall in volume and the other 23 an overall rise.
Total sales value across Scotland increased by 6% compared to the previous year, producing a 0.5% drop in the average price paid to £169,397. Semi-detached properties showed an increase of 2.0%, but detached, terraced and flatted properties all saw decreases in average prices.
Apart from Shetland, where the average price rose by 18.4% year on year, changes across the country were all in single figures, with more areas showing an average rise than a fall, though Edinburgh (down 3.1%) was among the fallers.