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House prices in Scotland

LSL Property Services/Acadametrics have released their Scottish house price index for July 2012. The figures show a 21% increase in house sales and a 9% increase in first time buyer sales, an increase that is bucking the UK trend.

Dr Peter Williams, housing market specialist and Chairman of Acadametrics, commented:

“In July 2012, the average price paid for a house in Scotland fell by £448, or 0.3%, to £145,622 on a seasonally adjusted basis. We emphasise that this figure is seasonally adjusted, as the non-seasonal figures show an increase in the average house price of some 2.0%. However, in Scotland, prices in July typically increase by 2.3% above June levels, so the trend this year is slightly below par.

“The annual change in prices by property type shows considerable variation. On an annual basis, the average price of semi-detached properties has increased by 3%, detached and terraced properties are down by 0.5%, while the average price of flats has fallen by 5%.

“The increase in sales in July has been seen across all property types. The data show a monthly increase in sales of detached +35%, terraces +29%, semi-detached +24% and flats +20%, over the June figures.”