Scotland’s property prices hold value but volumes drop

"Scotland saw over three billion pounds worth of property change hands during the last three months of 2010. This is down 6.4% on last year, although prices are holding up with the average house price now just over £158,000, an increase of 1.7%.

"All four property types (detached, semi-detached, terraced and flatted) saw fewer sales. Prices increased for detached and semi-detached houses. Terraced and flatted properties experienced the smallest decline in sales.

"Edinburgh was overtaken by East Dunbartonshire as the local authority area with the highest average price but the City of Edinburgh remains the largest market with sales of £428 million.”

Throughout Scotland, there are regions experiencing a rise in property prices but some areas have recorded slight decreases. The range is from -13.7% in Clackmannanshire to +10.5% in East Dunbartonshire, with the national average rounding off at +1.7%.

The situation for volume of sales is less positive, with 27 of Scotland’s 32 local authority areas seeing a drop in the numbers of properties purchased. This range goes from -23.5% in Moray to +4.1% in South Lanarkshire.

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