The Registers of Scotland recently published their report regarding house prices for the period from July to September 2019. The statistics show that the average selling price of a residential property in Scotland was £185,058, a 1.9% increase compared to the previous year.
The number of residential property sales in Scotland was 28,665, down 0.2% compared to the same period in 2018 but the total value of sales was £5,304,691,002, an increase of 1.7% from the prior year.
There were increases in the average selling price in Clackmannanshire, West Lothian and the Outer Hebrides. West Dunbartonshire saw the greatest increase in sales volume, rising by 13% year-on-year, while Midlothian saw the greatest increase in total value, rising by 21.6% year-on-year.
Edinburgh boasted the highest average selling price at £273,753 a 2.7% increase compared to last year. However, Glasgow achieved the greatest sales volume with 11.5% share of the total Scottish residential property sales.
Properties in the Borders saw a 5.2% decrease in the average selling price and a 15.2% decrease in sales volume. In Aberdeen there was a 3.3% year-on-year decrease in the average selling price, alongside a 0.4% decrease in property sales volume.
Paul Hilton, chairman of SPC Scotland, said:
“The Scottish property market continues to perform well in the face of political uncertainty. Sales volume has remained relatively steady with a small increase in average selling price.”
“It’s interesting to see significant increase in sales value in West Dunbartonshire and Midlothian respectively. This suggests a growing attraction to homes in areas outside of Edinburgh and Glasgow, yet with easy access to the amenities of the city.”
“As demand for homes in the cities results in increasing competition for properties, we may see further increases in sales volumes in areas just outside Edinburgh and Glasgow.”