Volume of residential sales up 6.5 per cent -RoS

A total of 28,019 properties were submitted for registration between July and September, the highest volume of sales for any quarter since quarter one of 2008-09.

RoS’ business development director, John King, said: “As well as a significant increase in the volume of sales, we’ve seen the total value of sales across Scotland rise by 6 per cent on the previous year to £4.74 billion. Like volumes, this represents the highest value of sales for any quarter since quarter one of 2008-09.

“By comparison, prices are largely unchanged, with the average property price at £169,397, a decrease of 0.5 per cent compared to the previous year. The variation across local authority areas is fairly consistent, with the largest decrease at 4.4 per cent. This is shared by Angus and East Lothian, which saw house prices fall to £155,303 and £213,870 respectively.”

West Lothian recorded the highest percentage rise in the volume of sales, with an annual increase of 23.1 per cent to 905 residential sales. The highest figure was in the City of Edinburgh, which rose 9.6 per cent to 3,530 individual sales. Aberdeenshire showed the largest percentage fall in volumes, down 13.5 per cent to 1,437.

The City of Edinburgh was the largest overall market, with sales of over £805 million for the quarter, an increase of 6.2 per cent on the previous year. West Lothian recorded the highest increase in value with sales of over £148 million, up 31.5 per cent. The largest decrease in market value was seen in Aberdeenshire, down 16.6 per cent to just over £323 million compared to the same quarter last year.

Semi-detached houses were the only property types that showed an increase in prices over the quarter, up 2.0 per cent to £159,854. Detached, terraced and flatted properties were all down: detached by 0.9 per cent to £245,547, terraced by 3.1 per cent to £137,607, and flatted by 2.4 per cent to £134,377.

These statistics cover all residential sales, including those that did not involve a mortgage.