Statistics published by Registers of Scotland (RoS) reveal that the volume of residential property sales in Scotland increased in the first quarter (April-June) of 2016-17 by 4.9% compared to last year.
There were a total of 25,760 property sales between April and June, the largest volume of purchases this quarter has experienced since 2008-9.
RoS’ director of commercial services, Kenny Crawford, said: “The total value of the residential property market continues to make an important contribution to the Scottish economy.
“Changes in Land and Buildings Transaction Tax that came into effect on 1 April 2016 for additional dwellings, such as second homes and buy-to-let properties, may have contributed to this increase.”
Although the average cost of property has in fact decreased by 2.3% in the past year, the total value of sales across Scotland increased by 2.5% to just over £4.2 billion.
Mr Crawford continued: “The latest statistics reflect a robust and active property market.”
The City of Edinburgh had the largest market with sales amounting to over £745.7 million, an increase of 7.1% compared to the same quarter last year.
However South Ayrshire trumped this increase by a staggering 27.8% compared to the last quarter, bringing sales in this area to £92.2 million.
The RoS publication also highlighted that the largest surge in the number of residential sales was in Edinburgh City at 3,178, up 8.6% compared to the same quarter the previous year.
Argyll and Bute too showed an increase in number of residential sales rising to 451, an increase of 24.5% in the past year.
Decreases were also made apparent in the RoS report, with Aberdeen City experiencing the biggest dip in volume of residential sales dropping to 1063, down 19.5%.
The average house price in West Dunbartonshire also showed a decrease of 12.7% compared to the previous year, sitting at £105,859.
Excluding detached properties, all property types showed an increase in sales volumes and in particular flats with a rise of 11.2%.
All property types showed a decrease in average house price in this quarter, with terraced properties showing the biggest decrease down 5.6 per cent to £132,700.
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