The property market across Scotland - Quarter Three 2019

by SPC Scotland

29 November 2019

House prices in Scotland continue to rise amidst political uncertainty

The most recent quarterly house price statistics published by Registers of Scotland earlier this month, covering the period from July to September 2019, shows that the average selling price of a residential property in Scotland was £185,058, a 1.9% increase compared to the previous year.

The volume of residential property sales in Scotland was 28,665, down 0.2% compared to the previous year, while the total value of sales was £5,304,691,002, up 1.7% from the prior year.

Average selling prices across Scotland

Properties in Clackmannanshire saw the largest increase in average selling price, rising by 11.8% year-on-year to £160,833. West Lothian also saw a significant increase in average selling price, rising by 9.1% to £188,062.

Na-h-Eileanan Siar (Outer Hebrides) properties saw the greatest percentage increases in terms of both volume and value – however, this is partially due to sales volumes in this area being much lower, resulting in more volatile statistics year-on-year.

Sales volume across Scotland

Looking at areas with a significant sales volume, West Dunbartonshire saw the greatest increase in sales volume, rising by 13% year-on-year, while Midlothian saw the greatest increase in total value, rising by 21.6% year-on-year.

Edinburgh property market 

Properties in Edinburgh boasted the highest average selling price at £273,753, which was a 2.7% increase compared to last year. However, Glasgow achieved the greatest sales volume, with 11.5% share of the total Scottish residential property sales – Edinburgh’s share was 11%. However, the sales volume in Glasgow dipped by 1.9% year-on-year, while the sales volume in Edinburgh rose by 1.1%.

Edinburgh also achieved the greatest total value of property sales, rising by 3.8% compared to the previous year and comprising 16.3% of the total value of Scottish sales. Glasgow had 10.2% of the total sales value.

Scottish borders property market

South of the central belt, properties in the Borders saw a 5.2% decrease in average selling price and a 15.2% decrease in sales volume. In Dumfries and Galloway, average selling price held relatively steady, with just a 0.1% year-on-year decrease. There was also a 6.7% increase in sales volume in these areas.

Dundee property market

Further north, properties in Dundee saw a 1.4% increase in average selling price, along with a 2.1% increase in sales volume. In Aberdeen, there was a 3.3% year-on-year decrease in average selling prices, alongside a 0.4% dip in property sales volume.

The Scottish property market remains strong

Paul Hilton, Chairman of SPC Scotland, said: “The Scottish property market continues to perform well in the face of political uncertainty. Sales volume has remained relatively steady with a small increase in average selling price.

“It’s interesting to see significant increase in sales volume and sales value in West Dunbartonshire and Midlothian respectively. This suggests a growing attraction to homes in areas outside of Edinburgh and Glasgow, yet with easy access to the amenities of the city.

“As demand for homes in the cities results in increasing competition for properties, we may see further increases in sales volumes in areas just outside of Edinburgh and Glasgow.”

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