The average price for a residential property in Scotland decreased by 2.2% in the last quarter (January to March 2007) and is now £139,836, according to figures released today by Registers of Scotland. This compares with a figure of £143,055 in the previous quarter (October to December 2006).
The figure also represents an increase of 12.3% over the same quarter last year. The highest figure is again in the Lothian region, where the average price for properties registered is £178,139, a decrease of 1.5% compared to the last quarter and up 11.3% on the same quarter the previous year.
The highest year-on-year increase, at 28.1%, is in the Grampian area, where the average house now sells for £150,627. The Glasgow area remains the largest market with sales of just over £1.4 billion for the period, which is an increase of nearly £145 million or 11.3% over the same period last year.
The total value of sales across Scotland registered during the quarter is just over £4.5 billion equating to an increase of over £660 million or 17% 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.
