Scotland

Scottish house sales rise after independence 'uncertainty'

For sale and sold signs Image copyright PA
Image caption Scottish house sales rose after September's independence referendum vote

Scotland's house sales rose in September as the "uncertainty" over Scottish independence ended with the referendum vote, according to a monthly property report.

The latest house price index from LSL Property Services/Acadata found a 15% year-on-year rise in transactions during the month.

That compared with growth of just 7% in the 12 months to August.

LSL said it was the strongest September for transactions since 2007.

But the report also showed average property values fell by 0.4%.

The index showed prices were falling at the top end of the market, with a 1.3% monthly drop witnessed in Edinburgh, while values dipped by 1.2% in Aberdeenshire during September.

However, it said the average Scottish home had risen in value by almost £8,000 in the past year after a sustained period of growth, taking the average house price across the country to £163,630.

Image copyright Thinkstock
Image caption Edinburgh has seen one of the biggest drops in average prices

Christine Campbell, regional managing director of Your Move, said the dips in Edinburgh and Aberdeen reflected what was happening in prime central areas of London, as the top tier of the housing market experienced the keenest downturn.

She said: "While Scottish house prices have sailed up nearly £8,000 in the last 12 months overall, the rate of annual growth appears to have changed tack, easing back to 5.1% in September from 5.8% in August.

"Since June, the monthly pace of house price growth has ebbed away, as doubt raged over the future of Scotland within the United Kingdom, and touched the brakes on activity in the housing market.

"However, these shifts we're seeing on the surface haven't uprooted the solid foundations of the recovery, with average house prices across 81% of Scotland standing taller than a year previously."

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