Sales volumes soar in Scotland

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Registers of Scotland published statistics on Tuesday (yesterday), showing that the total volume of 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.

The highest percentage rise was recorded in Moray with an average price of £144,813, a rise of 7% compared with the same quarter the previous year. The City of Edinburgh recorded the highest average price of £220,428, an increase of 5.6% compared with the same quarter the previous year. The largest percentage fall in price was in Scottish Borders which showed a drop of 13.3% with an average price of £163,222.

The total value of sales across Scotland registered in the quarter increased by 9.0% compared with the previous year to just under £2.85 billion.

The City of Edinburgh remains the largest market with sales of over £449 million for the quarter, an increase of 14.5% over the same quarter last year.