According to the Registers of Scotland, property prices across the country rose sharply between January and March in 2014.

The study found that properties increased by 13.3% to £173,830, the highest quarterly figure since the Register began compiling statistics in 2003.The survey also found that the value of sales increased by 8%.

Volume of Sales

Despite the positive figures, and property prices in Scotland reaching an all time high, with every area in Scotland showing a rise in the value of properties, the total volume of sales across Scotland fell by just under 5% to around 17,000.

All property values did rise with sales of over £553m for the quarter, an increase of 29.2% on the previous year. RoS head of data Hugh Welsh said: "We've seen sustained growth in house prices throughout the 2014-15 financial year, with January to March's figures representing the highest quarterly increase in average price since quarter one of 2007-08.

"Future sales statistics will determine whether this is a one-off spike in quarter four average prices or whether this is a trend that will continue."

Rush To Beat LBTT

Many believe that although there was a rush to buy property many believe that this was merely due to the introduction of a new tax in Scotland.

Aberdein Considine senior property partner Bob Fraser said he believed the figures were a one-off spike caused by a rush to beat the new Land and Buildings Transaction Tax which replaced Stamp Duty.

Contact Us 

If you require legal advice regarding buying a property contact our team of skilled solicitors using our online contact form.