Volume of residential sales up 14.5 per cent

A total of 28,779 properties were submitted for registration between October and December, the highest volume of sales for any quarter since quarter one of 2008-09.

RoS’ commercial services director, Kenny Crawford, said: “As well as a significant increase in the volume of sales this quarter, prices have reached their highest since RoS began compiling quarterly statistics in 2003. This increase is more modest, up 1.6 per cent to £167,734. Combined, this indicates a more robust and active property market.”

The highest percentage rise in volume of sales was recorded in Midlothian, with an annual increase of 30.2 per cent to 539 residential sales compared with the same quarter last year. The City of Edinburgh recorded the highest volume of sales at 3,532, up 21.4 per cent, while the largest percentage drop in volumes was in Aberdeen City, which showed a fall of 12 per cent to 1,274 residential sales.

In terms of price, the highest percentage rise was in Inverclyde, where prices climbed 13.1 per cent to £132,382. The City of Edinburgh held the highest average at £233,255, a rise of 3.2 per cent on the previous year. The largest percentage fall was in Dumfries and Galloway, which showed a drop of 9.9 per cent to an average price of £130,275.

The total value of sales across Scotland registered between October and December increased by 16.3 per cent to just under £4.83 billion. This represents the highest value of sale for any quarter since quarter one of 2008-09.

The City of Edinburgh remained the largest market with sales of just under £824 million for the quarter, an increase of 25.3 per cent on the previous year. East Ayrshire recorded the highest increase in value with sales of over £66m, up 33.9 per cent. Aberdeen City had the largest decrease in overall market value, down 13.6 to over £273m on last year.

All property types showed an increase in sales volumes, with flats showing the biggest increase at 18.4 per cent. In terms of prices, flats were the only property type to show an increase in average house prices, up 0.6 per cent to £130,679. Detached, semi-detached and terraced properties all saw decreases in average prices, of 0.3 per cent, 1.4 per cent, and 3.5 per cent respectively.

These statistics cover all residential sales, including those that did not involve a mortgage.