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Signs of consolidated growth in Scotland’s property market

There was a 22.9% increase in the number of residential properties sold in Scotland in the fourth quarter of 2013/14 compared to the same period last year, according to the latest figures from the Registers of Scotland.

The figures also show that over the three month period, 17,828 properties changed hands, which is apparently the highest recorded for this quarter since 2007/08. In addition, the average property price across Scotland reached £153,352.

The total value of sales across Scotland registered in the quarter increased by 27.2% compared to the previous year, to over £2.73 billion.

The City of Edinburgh remains the highest value market with total sales of just under £430 million for the quarter, an increase of 28.4% compared with the same quarter last year.

Angus showed the highest percentage rise with the total value of sales increasing by 59.2%, while East Dunbartonshire recorded the highest average property price at £219,731, a rise of 4.6%.

Registers of Scotland intends to shortly release a 10-Year Property Market Report for 2004-2014, which will add further insight into these statistics.  This follows up on the 2003-2013 report issued last year, and will once again cover the trends in the land and property market over the past decade.

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