Volume strongly up in latest quarter, Registers' figures show
House sales in Scotland performed strongly in the three months to the end of 2015, according to official statistics published today by Registers of Scotland (RoS).
The number of transactions was up by 14.5% compared to the same period in the previous year, with a total of 28,779 properties submitted for registration between October and December, the highest volume for any quarter since quarter 1 of 2008-09. It was up by 4.7% on the previous quarter's total of 27,491.
There was also a modest overall price increase of 1.6%, with an average transaction value of £167,734. The figure was however 1% down on the previous quarter's £169,411.
Aberdeen was one of only three local authority areas to show a year on year drop in volume, with sales down 12% in the city currently in the grip of an oil price recession. However prices held firmer in the city, down by only 1.8% over the year, while in Aberdeenshire they were unchanged year on year. Midlothian showed the biggest rise in volume, up 30.2%, but most areas recorded double digit growth.
Biggest annual price changes were in Inverclyde (up 13.1%), East Ayrshire (up 11.4%) and Glasgow City (up 8.6%) on the plus side, while dips of 13.3% were recorded in Shetland, 9.9% in Dumfries and Galloway, 7.3% in Scottish Borders and 7.1% in West Dunbartonshire.
The price growth was supported by flats, the only property type to show an increase in average house prices, with small declines being reported for detached, semi-detached and terraced properties.
RoS's commercial services director, Kenny Crawford, said that as well as the significant increase in volume, prices had reached their highest for the quarter since RoS began compiling quarterly statistics in 2003. "Combined, this indicates a more robust and active property market."