There was an increase of 3.5% in Scottish house prices in the first quarter of 2015-16 compared to the same period in the previous year, according to official statistics published by Registers of Scotland (RoS).
The average house price in Scotland from April to June was £167,765, which is apparently the highest figure recorded for this quarter since RoS began compiling quarterly statistics in 2003.
The total volume of sales across Scotland was 24,685, an increase of 1.6% on the same quarter in the previous year. This is the highest volume of sales for this quarter since 2008.
Glasgow City showed the largest percentage rise in the number of sales, with an increase of 17.6%. This brought Glasgow City above the City of Edinburgh in terms of volume, with 3,035 residential house sales compared to Edinburgh's 3,002. This is the first time that the volume of sales in Glasgow has exceeded those in Edinburgh since quarter four of 2012-13.
The total value of sales across Scotland increased by 5.1% compared to the previous year to over £4.14 billion. The City of Edinburgh remains the largest market, with sales of over £712 million for the quarter, up 6.4%. West Dunbartonshire recorded the highest increase in value, up 27% to over £45 million.
"The City of Edinburgh recorded the highest average house price at £237,286, a rise of 4.4% on the previous year,” commented RoS' commercial services director, Kenny Crawford. “This percentage increase is slightly higher than the Scotland average of 3.5%.”
"Across Scotland's local authority areas the picture is more mixed,” he added. “The highest percentage rise was recorded in West Dunbartonshire, where the average price increased 10.1% to £120,822, while the largest percentage fall in price was in East Renfrewshire, which showed a 7.0% drop to £216,565."
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