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Average house price increases to £168,000

Average house price increases to £168,000

The average price of a house in Scotland over the last three months was almost £168,000, the highest figure recorded for the quarter, according to official statistics.

The Registers of Scotland (RoS) report shows a 3.5% rise in prices covering April to June compared to the same period last year.

It took the average price to £167,765 – the top figure registered for these three months since RoS began compiling quarterly statistics in 2003.

The total value and volume of sales across Scotland was up compared to the previous year to more than £4.14 billion.

Glasgow showed the largest percentage rise in the number of sales, with an increase of 17.6% bringing the city above Edinburgh in terms of volume.

The biggest fall in the number of sales was seen in Aberdeen at 18%.

Kenny Crawford, commercial services director at RoS, said: “The city of Edinburgh recorded the highest average house price at £237,286, a rise of 4.4% on the previous year. This percentage increase is slightly higher than the Scotland average of 3.5%.

“Across Scotland’s local authority areas the picture is more mixed. The highest percentage rise was recorded in West Dunbartonshire, where the average price increased 10.1% to £120,822, while the largest percentage fall in price was in East Renfrewshire, which showed a 7% drop to £216,565.”

Flats showed the biggest increase in both average price and sales volume as prices rose, while detached and terraced properties both saw decreases in average price and volume.

The statistics cover all residential sales, including those that did not involve a mortgage.

Graeme Brown, director of Shelter Scotland, said: “Increasingly expensive homes are no reason for celebration. At a time when many are struggling toafford a home and make ends meet, it’s ironic that some will see this as apositive sign that the housing market is recovering.

“True recovery suggests a return to health. But, when many wages are stagnant and housing costs are already high, an increase in house prices only makes it even harder for people – especially young families – to get a home of their own.

“A healthy housing market is one where everyone has a secure, affordable home whether renting or buying, but many are being denied that right because Scotland has a housing crisis driven by a major shortage of affordable homes.”