Registers of Scotland have published statistics showing that the average price of a residential property in Scotland increased by 0.4% during the first quarter (April to June) 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 £153,820.
The total volume of sales across Scotland registered during the first quarter of 2011/12 was 16,947, a decrease of 10.8% on the same quarter the previous year.
The total value of sales across Scotland registered in the quarter fell by 10.5% compared to the previous year to just over £2.6 billion. The City of Edinburgh remains the largest market with sales of over £388.9 million for the quarter, a decrease of 12.8% over the same quarter last 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 16.1% and semi detached properties showing the smallest decrease of 5%.
