Newly released figures from Registers of Scotland reveal that the number of residential properties sold in Scotland in the third quarter of 2013 was up 26.1% on the same period in 2012.

Total volumes for October to December of the financial year 2013/14 amounted to 25,579 – the highest recorded for this period since 2007/08. The average price of property for this quarter was £159,670.

East Renfrewshire is, according to the figures, the most expensive place to buy in Scotland, with an average price of £222,906, a rise of 4.8%. The City of Edinburgh had the highest number of sales with 2,951 properties changing hands, up 35%, followed by Glasgow with 2,569, up 24.8%.

East Lothian recorded the highest percentage rise in average property price, jumping 14.9% to £209,566, compared to the same period last year when the average cost was £182,330.

The largest percentage drop in average house price was in Inverclyde, where values fell by 8.7% to £116,085; but it showed the largest percentage rise in the number of sales with an increase of 44.2%. Registers of Scotland points out however, that this is a small local authority in terms of sales (1.2% of the all Scotland total) so, although the statistics only relate to sales between £20,000 and £1 million, the figures can be easily influenced by factors such as a large high value sale or lots of sales at the lower end of the market.

“The Scottish property market is definitely showing signs of improvement and renewed optimism, possibly partially fuelled by an influx of first time buyers thanks to schemes such as Help To Buy,” commented Registers of Scotland’s Director of Commercial Services, Kenny Crawford.

“All property types showed an increase in average house price, the biggest being in detached properties, up 2.2%, with this type showing the biggest increase in sales volumes of 26.3%, followed by terraced properties up 26%."

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