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Property sales volumes soar

Registers of Scotland have published statistics showing that the total volume of property sales across Scotland registered during the first quarter of 2012/13 was 18,514, an increase of 9.2% on the same quarter the previous year.

East Ayrshire showed the largest percentage fall in the number of sales with a decrease of 4.9%. East Lothian showed the largest percentage rise with an increase of 36.6% in total sales compared to the same period in the previous year. The City of Edinburgh recorded the highest sales volume with 2,037 residential house sales, an increase of 8.4% on the previous year.

But whilst sales volumes increased, the average price of a residential property in Scotland decreased by 0.2% during the first quarter (April to June) of the financial year 2012/13 compared with the same period the previous year. The average price of a residential property for this quarter was £153,501.