Scottish property sales at seven-year high

Property sales have risen to a seven-year high in what experts have called a “post-referendum bump”.

Wednesday, 19th November 2014, 9:21 am
Property sales are at a 7-year high. Picture: Ian Rutherford

The Scottish real estate market has recorded a 15 per cent increase in the number of homes being sold in September – but fresh figures from LSL Property Services also reveal that the average price of a home in Scotland has fallen slightly, to £163,630.

Edinburgh still boasts the country’s most expensive homes, despite prices having dipped 1.3 percent from August to September. The typical property now costs £238,747. Yet that price is still 6.3 per cent higher than this time last year.

East Lothian recorded the second largest increase in prices across Scotland. The average property has risen by 11.3 per cent since 2013, to £221,282.

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The market has also proven strong in West Lothian, where prices are up seven per cent year-on-year. The average cost of a home has gone up by nearly £11,000, to £146,716.

The lowest regional increase came out of Midlothian, where the typical property has risen by 2.9 per cent, to £172,691.

Christine Campbell, regional managing director of Your Move, said: “Following almost a year of fair winds and steadfast price rises, this is the second month in succession to muddy the waters.”