The average price for a residential property in Scotland increased by 6.8% in the last quarter (April to June 2007) and is now £149,316, according to figures released today by Registers of Scotland. This compares with a figure of £139,836 in the previous quarter (January to March 2007).
The figure also represents an increase of 14.3% over the same quarter last year. The highest figure is again in the Lothian region, where the average price for properties registered is £190,573, an increase of 7% compared to the last quarter and up 12.8% on the same quarter the previous year.
The highest year-on-year increase, at 26.1%, is in the Grampian area, where the average house now sells for £163,855. The Glasgow area remains the largest market with sales of over £1.7 billion for the period, which is an increase of over £305 million or 21% over the same period last year.
The total value of sales across Scotland registered during the quarter is just over £5.7 billion equating to an increase of over £1.1 billion or 24.4% 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.
