Hennessy Bowie Solicitors News
Hennessy Bowie & Co has been practising in Bishopbriggs for some twenty five years, principally in the areas of domestic conveyancing, commercial conveyancing, commercial leasing, executries and matters relating to care for the elderly,
Signs of Sustained Property Market Growth
The latest figures from Registers of Scotland have revealed signs of sustained growth in the Scottish property market in the past year.
There was apparently a 22.4% increase in the number of residential properties sold in Scotland in the first quarter compared to the same period in 2013. From April to June this year, 24,351 properties changed hands – the highest recorded for this quarter since 2008/09 – while the average price of property was £162,122.
Renfrewshire recorded the highest percentage rise in average price compared with the same quarter of the previous year, up 16.8% to £128,138. The largest percentage fall in price was in Midlothian, which dropped 6.3% to an average price of £169,014. East Renfrewshire recorded the highest average at £232,987, an increase of 10.0% on last year.
“This is the fourth consecutive quarter that volumes have increased in excess of 22% on the previous year, demonstrating sustained growth in the Scottish property market,” commented Registers of Scotland’s director of commercial services, Kenny Crawford. “All local authorities showed an increase in sale volumes, with the exception of Aberdeen City, which decreased by 2.1%.”
“It’s also the first time in almost four years that we’ve seen the average house price rise by more than 5%, bringing the average residential property price to £162,122,” he added.
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