By Adam Cromarty
New figures published yesterday by Registers of Scotland (RoS) show that Scotland’s property prices have reached an all-time high, with the average price across Scotland now standing at £163’360.
This is an increase of 5.8% on the same period in 2009.
This comes as good news as the UK economy continues the struggle to re-gain stability. However the positivity remains clouded as the volume of sales remains to be only half of the figure recorded for the same period in 2007, when they were at their peak.
Views within the industry seem to be mixed with some maintaing that the prices are on the up due to a simple ‘supply and demand’, whilst others insist that this proves the market is on the up.
The fluctuation of these figures vary as whilst the Edinburgh property price is up by 9.9% on the same period as last year at £228’697, when you compare the figures from September and October a drop of 8.9% can be found.
Kenny Crawford, head of commercial services of RoS, said: “Interestingly, it is the detached and semi-detached properties that have recorded the highest increase in value while the volume of sales has been strongest for semi-detached and flats.”