Scottish house sales fall 57.1%

Tuesday, 05, May 2009 04:40

Sales of houses in Scotland have fallen by 57.1 per cent over the last year according to Registers of Scotland.

The average house price for a property in Scotland fell by over six per cent in the first quarter of 2009, compared with the same period in 2008, bringing the average price for a residential property down to £140,318.

According to the Register's publication, released today, the total value of property sales across Scotland registered during the first quarter of 2009 were just over £1.6 billion, a decrease of 59.9 per cent over the same quarter last year.

The City of Edinburgh saw the highest house prices, at £187,289, whilst also retaining the largest market sales of just under £217 million for the quarter, a decrease of 60.9 per cent over the same quarter last year.

Detached properties showed the largest decrease in house prices, at nine per cent year on year for quarter one. However, Angus, East Dunbartonshire, Falkirk, Moray and Orkney Islands local authority areas all showed increases in average property prices compared to the previous year.

Inverclyde recorded the highest year-on-year decrease, at 23.2 per cent, with the average residential price currently standing at £103,505.