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Figures show house price increase
24/08/2007
The average price for a residential property in Scotland increased by 6.8 per cent 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 per cent 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 per cent compared to the last quarter and up 12.8 per cent on the same quarter the previous year.
The highest year-on-year increase, at 26.1 per cent, 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 per cent 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 per cent over the same quarter last year.
These figures include residential sales for cash, where there is no mortgage, which occurs in more than 20 per cent of transactions.
Background
A table and map with a breakdown of the figures for different areas of Scotland for the period April to June 2007 is available at http://www.ros.gov.uk/aboutus/pressreleases.html
This is the seventeenth in a series of quarterly reports tracking the movement of property prices in Scotland and the focus is on the activity in seven broad geographic regions across the country. The method of calculating the figures has been independently audited to ensure that the information is accurate and comprehensive.
Previous quarterly reports and a guide to the compilation of the figures are available from Registers of Scotland at:
http://www.ros.gov.uk/productsandservices/lpd_press.html