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Scottish housing market goes from strength to strength

Adding to a general sense of optimism spreading to all sectors of the Scottish housing market, recent figures released by Solicitor Property Centres Scotland (SPC Scotland) have revealed a 36% increase in house sales in the final three months of 2013 compared with the same period last year, reports the BBC.

Furthermore, most areas of the country experienced the highest level of sales since 2007, with Peter Ryder, of the SPC Scotland telling the BBC:

“In the third quarter sales were up 29% annually and this was followed by a rise of over 36% during the fourth quarter.

“The economic picture last year was brighter than had been widely expected and activity among first time buyers and buy-to-let investors in particular grew strongly.”

The increase in activity levels was matched by an increase in average house prices over the quarter in most parts of the country, taking the average price of a house in Scotland to £179,223, an increase of 4.8%.

The expectation is that as sellers gain confidence in the market, more properties will be put up for sale, explained Peter Ryder, and this improved supply should help avoid another housing bubble.

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