Scotland business

Registers of Scotland: House prices dip slightly

For sale signs on properties
Image caption The average home sold for just over £148,000 in the first quarter of 2013

House prices in Scotland have dipped slightly over the past year despite more homes changing hands, according to official statistics.

In the last quarter, homes cost an average 0.4% less than the same period last year.

Registers of Scotland data also showed a 5% increase in the number of residential properties sold.

Homes sold for an average of £148,174 in the first three months of 2013 - 4.3% down on the previous quarter.

From January to March 2013 some 14,567 residential properties were sold.

Three local authority areas in Scotland had average values of above £200,000 - Edinburgh City, East Dunbartonshire and East Renfrewshire, which had the costliest average price in Scotland at £212,129.

Midlothian saw the largest year on year rise in prices, with homes there selling for 9% more than the same period in 2012.

City sales

Glasgow saw the largest number of properties sold in the first three months of the year, with 1,666.

Volumes also increased in Edinburgh. A total of 1,639 properties changed hands in the capital, where the total sales topped £335m -making it the largest market in Scotland.

East Ayrshire showed the largest percentage fall in terms of number of properties sold, with 9.4% fewer homes changing hands compared to the same period last year.

Prices there also dropped, as they did in Inverclyde and West Dunbartonshire.

Registers of Scotland's director of commercial services, Kenny Crawford, said: "It is encouraging to see a rise in volumes and while the average price has fallen, it is not a substantial drop.

"We are seeing some interesting figures from areas like Midlothian, where the volumes and average price have both increased.

"There've been a number of new developments in areas like Dalkeith and Gorebridge, which are likely to be contributing to this upward trend."

He added: "Work has also recently begun on the new Borders Railway Project, which may also be having an impact on the local housing market."

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