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The average price for a residential property in Scotland increased by 7.6% in the last quarter (July to September 2005) and is now £126,538, according to figures released by Registers of Scotland. This compares with a figure of £117,626 in the previous quarter (April to June 2005).
This represents an increase of 7.1% over the same quarter last year.
The highest figure is again in the Lothian region, where the average price for properties registered is £165,613, an increase of 7.8% compared to the last quarter and up 5.8% on the same quarter the previous year.
The highest year-on-year increase, at 12.8%, is in the Highlands and Islands area, where the average house now sells for £122,294.
The Glasgow area remains the largest market with sales of a little under £1.6 billion for the period, which is an increase of over £316 million or 24.8% over the same period last year.
The total value of sales across Scotland registered during the quarter is over £5 billion equating to an increase of £737 million or 17.1% over the same quarter last year.
These figures include residential sales for cash, where there is no mortgage, which occurs in more than 20% of transactions.
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Region |
Jul-Sep 2004 |
Jul-Sep 2005 |
% increase |
|
Central |
103,057 |
115,607 |
12.2 |
|
Grampian |
107,490 |
120,883 |
12.5 |
|
Highlands and Islands |
108,427 |
122,294 |
12.8 |
|
Lothian |
156,539 |
165,613 |
5.8 |
|
Scottish Borders |
128,192 |
135,290 |
5.5 |
|
South West Scotland |
100,939 |
109,935 |
8.9 |
|
Glasgow area |
112,919 |
119,000 |
5.4 |
|
Unallocated* |
140,108 |
144,623 |
3.2 |
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Scotland |
118,141 |
126,538 |
7.1 |
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*Unallocated sales are those which could not be accurately located in a local authority area |
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