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Average property prices in Scotland

Recent statistics published by Registers of Scotland have shown that the average price of a residential property in Scotland decreased by 0.2% during the second quarter (July to September) of the financial year 2011/12 compared with the same period the previous year. The average price of a residential property for this quarter was £163,091.

The highest percentage rise was recorded in Stirling with an average price of £196,689, a rise of 7.9% compared with the same quarter the previous year. The City of Edinburgh recorded the highest average price of £225,378, a fall of 2.1% compared with the same quarter the previous year. The largest percentage fall in price was in Inverclyde which showed a drop of 9.7% with an average price of
£125,026.

The total volume of sales across Scotland registered during the second quarter of 2011/12 was 20,293, a decrease of 3.7% on the same quarter the previous year. Moray showed the largest percentage fall in the number of sales with a decrease of 36.5%. East Renfrewshire showed the largest percentage rise with an increase of 8.9% in total sales compared to the same period in the previous year. Glasgow City recorded the highest sales volume with 2,247 residential house sales, a decrease of 4% on the previous year.

The total value of sales across Scotland registered in the quarter fell by 3.9% compared to the previous year to just over £3.3 billion. The City of Edinburgh remains the largest market with sales of over £496 million for the quarter, a decrease of 6.9% over the same quarter last year. Aberdeenshire showed the highest percentage rise with the value of sales increasing by 8.9% compared to the previous year.

All property types showed a decrease in average house price in this quarter. All property types also showed a decrease in sales volumes when compared with the previous year, with flats showing the largest decrease of 5.8% and detached properties showing the smallest decrease of 0.8%.