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30/07/2013

Scotland's Property Sales Increase

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Official figures from the Registers of Scotland have revealed the total volume of property sales across the country has increased.

Compared with the same period a year ago, sales have risen by 8.1%, with the statistics showing a gradual sales volume increase over the previous nine months.

During the first quarter (April to June 2013), the average price of a residential property in Scotland fell by 0.3%.

The figures cover all residential sales including those that did not involve a mortgage.

All property types demonstrated a growth in sales volumes, with Flatted property types showing the largest increase with 16.5%.

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Commenting on the official figures, Registers of Scotland's Director of Commercial Services, Kenny Crawford, said: "It's extremely positive to see an upturn in the market with sales volumes increasing by 8.1% over the past three months. There have been some areas that have experienced a decrease, but with the total value of sales increasing by 7.7% compared to the previous year, it's an encouraging indicator of improvements in the residential property market.

"Across Scotland, some areas are experiencing significant price increases. In particular, Aberdeenshire is performing well, with an average price of £215,589, this is a 5.6% rise from the same period a year ago. East Renfrewshire recorded the highest percentage price rise of 6.2%. However, prices in Argyll and Bute have experienced a drop of 11.9%.

"Looking at the property type volumes, Detached, Semi Detached and Terraced properties all showed a decrease in average price this quarter, with Terraced properties showing the biggest decrease at 2.9%. The average price of Flatted properties has remained the same as last year's quarter. Nevertheless, the average price of a residential property this quarter was £153,102 which is a decrease when compared with last year's figures."

(JP/CD)

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