Quarterly house data show ongoing volume rise but price dip
Volumes of house sales rose across Scotland at the same time as average prices fell, for the second quarter running, in April-June 2016, according to the latest data from Registers of Scotland.
Registers' quarterly statistics for the first three months of the 2016-17 financial year show the volume of residential property sales in Scotland at 25,760, an increase of 4.9% compared with the same period in the previous year and the highest volume of sales for this quarter since 2008-09.
However the average property price in the quarter was down 2.3% year on year, at £164,326, though this was up on the January-March average of £159,198.
The previous quarter showed year on year volume growth of 18.2% but average prices down 8.4%.
The 24 local authority areas showing volume growth ranged from East Lothian at 0.4% and Angus at 0.8%, to North, East and South Ayrshire, Argyll & Bute and Na h-Eileanan Siar, all at between 20 and 25% up on the same quarter the previous year. Three areas (Clackmannan, Falkirk and East Renfrewshire, and five a sales decline, led by Aberdeen City, down by 19.5%, and Aberdeenshire, down by 14.5%.
Average prices year on year rose in 16 areas and fell in 16 areas. East Renfrewshire recorded the highest average at £241,364, and the highest percentage increase at 11.7%. Price-wise it overtook Edinburgh, which dipped 1.4% on average to £234,658. The next highest percentage rise was Na h-Eileanan Siar at 7%. West Dunbartonshire recorded the highest percentage fall, 12.7%, followed by Aberdeenshire at 10.8% and Perth & Kinross at 7.1%.
All property types showed a decrease in average house price in this quarter, led by terraced properties, down 5.6% to £132,700, but with the exception of detached properties (down 3.4%), all property types showed an increase in sales volumes, with flats showing the biggest increase at 11.2%.
The total value of sales across Scotland increased by 2.5% compared to the previous year to just over £4.2bn.