There was a slight rise in the number of houses sold in Scotland during the last quarter of 2011, official figures from Registers of Scotland have shown, which could be good news for those who want to sell a house fast. The average price of a residential property fell by 0.5 per cent between October and December last year compared with the same period in 2010, with houses in Edinburgh retaining the highest average value overall.
Meanwhile, Inverclyde saw the steepest fall in house prices at a 12 per cent drop on the year before, and West Dunbartonshire recorded the highest percentage rise at six per cent. There was also considerably more activity in East and West Dunbartonshire, with a 28 per cent rise in the number of property transactions in both regions.
“The strength of sales in the house market is having a levelling effect on the market as a whole and this is keeping the changes to Scotland’s property averages at under one per cent,” said Kenny Crawford of Registers of Scotland. According to research by the Bank of Scotland, buying a three-bedroom home in Scotland is now six per cent cheaper than renting.