Recently released statistics from Registers of Scotland (RoS) have revealed that the value of residential property sales in 2015 exceeded £16.5 billion.
In total, there were 97,701 residential property sales in Scotland over the year, the highest annual figure since 2008, and an increase of 4.5% compared to the previous year.
The City of Edinburgh had the largest volume of sales, achieving 11,991 sales in 2015, up 8.3% on 2014. This was closely followed by Glasgow City, up 12.2% to 11,616. East Renfrewshire experienced the largest annual growth in the volume of sales, with a 13.1% increase to 1,861. Aberdeenshire saw the largest decrease in volumes, down 11.8% to 5,108.
The average price of a residential property apparently rose in 2015, up 3.6% to £169,402. The local authority area with the highest average price was the City of Edinburgh, where the average price for the year was £238,036, an increase of 4.9% on 2014.The highest annual change in average price was in West Lothian, rising 9.1% to £161,014 in 2015. The only local authority area to show a slight decrease in average price was East Renfrewshire, down 0.6% to £227,369.
While the average price for all property types increased in 2015, semi-detached houses showed the largest rise in price, up 3.4% to £157,995. Detached properties had the highest average price at £249,921.
Flatted properties have the highest volume share, claiming 36.2% of the total market. The lowest share of the market was semi-detached houses, with 17,974 transactions accounting for 18.4% of the market.
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