House prices in Scotland fall while sales grow

Average house value put at £163,630

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The Independent Online

The average Scottish home has risen in value by nearly £8,000 over the last 12 months, says a new report from LSL.

With the uncertainty over the Scottish independence vote over, annual sales growth jumped to 15 per cent in September compared to September 2013 - the comparable figure for August was seven per cent.

Average Scottish house prices fell 0.4 per cent over the month, with LSL valuing the average house at £163,630. Two of the most expensive areas of the country experienced falls, Edinburgh prices down 1.3 per cent in September and Aberdeenshire down 1.2 per cent.

"Average house prices across 81 per cent of Scotland are standing taller than a year previously," said Christine Campbell, regional managing director of Your Move. "September also saw sales snap back after the vote put the lid on uncertainty. After the ground that was lost in August, renewed demand saw more vigorous activity buck the usual seasonal pattern, and this was the strongest September for house sales in seven years."

A separate report from Sequence out today suggests house prices across the UK, excluding London, rose one per cent in October compared to September to an average of £184,917. Howeer, sales transactions fell month-oon-month by one per cent and six per cent annually 

"As we head into winter the property market appears to be settling into a new rhythm. House prices remain strong, but the level of sales is starting to slow, " said David Plumtree, Chief Executive at Sequence. "This echoes a more seasonal, but stable, market, where there are fewer buyers registering and fewer instructions although there are still six buyers registering for every new instruction."

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