Scotland business

Early 2015 slump for Scots commercial property sales

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The value and number of transactions in Scottish commercial property has dipped by a third at the start of this year, it has been claimed.

Official figures show the value of sales is down from £975m in the final three months of 2014 to £615m in January to March.

There was also a drop-off in the number of transactions from 1,120 to 854 over the same period.

The biggest drop was in Edinburgh property, down from £417m to £112m.

Aberdeen showed the opposite trend, with a rise from £70m to £120m.

David Melhuish, director of the Scottish Property Federation said: "This significant drop in sales coincides with a reported slowdown in wider UK economic activity, with the additional unpredictability of an uncertain UK general election".

The Scottish results from the end of 2014 may also reflect a backlog of deals while buyers waited to see the outcome of the independence referendum on 18 September.

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