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Scottish House Values Rise by 3.4%

The value of Scottish properties rose by over 3% in the first period of 2015, continuing on the growth seen in the previous year. The growth was similar to that seen at the end of 2014 according to official statistics.

Furthermore the total value of property sales increased by 3.1%, with house values increasing by 3.4%.

Statistics showed that East Renfrewshire had the most expensive average property price was £227,905, with the average property in December being just over £167,000.

Continued Growth

Kenny Crawford, Registers of Scotland's director of commercial services, said: "House prices have continued to rise this financial year, with average prices up by a minimum of 3.4% year on year for the last three quarters.

"We have also seen total values increase this quarter, with the city of Edinburgh remaining the largest market with sales of just over £656m, an increase of 2.8% compared with the same quarter in 2013."

Decrease in Volume

Despite the positive figures, the total number of sales in Scotland decreased for the first time since 2012-13 with a 0.3% decrease in the number of sales to just under 25,000 properties sold.

The statistics include properties when purchases were made on houses not involving a mortgage.

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For more advice regarding purchasing a property or legal representation in buying a house or arranging a mortgage, contact us today using our online contact form. Our team of expert solicitors are here to help with any claim or question you may have regarding property law.

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