Registers of Scotland (RoS) today published its latest house price statistical report, revealing that residential property prices rose 3.5% in the first quarter of 2015-16 compared to the same period in the previous year.
The average house price in Scotland from April to June was £167,765, the highest figure recorded for this quarter since RoS began compiling quarterly statistics in 2003.
On a more local level, the largest percentage rise in the number of sales came from Glasgow, with an increase of 17.6%.
This in itself is significant, as it marks the first time that the volume of Glasgow sales has exceeded those in Edinburgh since Q4 of 2012-13. Glasgow recorded 3,035 residential property sales compared to the capital city’s 3,002.
Further north, the biggest percentage decrease in the number of sales came from Aberdeen, which fell 18% to 1,263.
Overall though, the picture looks pretty positive for Scotland as a whole with the volume of sales across the country rising 1.6% from the same quarter last year to 24,685; the highest since 2008.
The type of properties which grew in average price and sales volume is a point of interest too, with flats showing the largest increase in both with prices rising 4.7% to £133,790 and sales increasing by 6.9%.
Meanwhile, detached and terraced properties both saw decreases in average price and volume. Detached prices fell by 0.2%, with volumes down 2.9%, while terraced properties showed a 0.3% fall in price and the largest decrease in volume of sales at 3.7%.
The full report from RoS can be accessed here.
NB These statistics cover all residential sales, including those that did not involve a mortgage.