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Scottish house prices drop, but more are selling

The average price of a home in Scotland has dropped by 1.5% compared to the same period a year ago, according to the latest figures from Registers of Scotland.

The statistics, which look at all house sales including those that did not involve a mortgage, reveal that in the third quarter (October to December) of the financial year 2012/2013, values for residential property averaged £154,810. 

The number of properties changing hands over the same period rose by 2.7%, with 20,355 sales in the final three months of the year. 

East Dunbartonshire was the most expensive place to buy in Scotland; a home there costs £215,300 on average. The City of Edinburgh had the highest volume of sales, with 2,189 residential properties selling in the quarter. 

“Across Scotland, as always, some local authority areas are performing reasonably well, while the market remains subdued in other locations,” said Registers of Scotland’s Director of Commercial Services, Kenny Crawford. 

“Inverclyde is standing out with some quite unusual statistics for this quarter,” he added. “Prices there are averaging 21.5% higher than for the same period a year before, with values sitting at £127,410. This is the largest percentage rise in average price by some margin. However, volumes in that area have experienced a 26.6% drop.”