The property market across Scotland - Quarter Two 2019 by SPC Scotland
16 October 2019
Average selling prices across Scotland
The total value of residential property sales in Scotland rose by 6.2% compared to the previous year, while the average selling price in the country rose by 1.5% year-on-year to £178,832. Properties in East Lothian experienced the largest increases in average selling price, which rose by 14.4% to £260,499. Dundee saw the greatest increase in total value of residential properties sold, rising by 22.2% compared to last year.
Dundee property market
North of the central belt, average selling prices in Dundee rose by 5.5% to £148,415, while sales volume increased by 15.8% year-on-year, suggesting relatively strong demand for properties in the city. Selling prices in Aberdeen remained relatively steady, rising by 0.8% to £201,801. However, the volume of residential properties sold in the Granite City dipped by 10.4% year-on-year.
The property market and Brexit
Paul Hilton, Chairman of SPC Scotland, said: “The most recent quarterly statistics from Registers of Scotland suggest the Scottish property market remains relatively stable in the face of political uncertainty in the UK. The average selling price rose slightly year-on-year while the sales volume also increased.
“There appears to be strong demand for properties in East Lothian and Dundee, with the former experiencing the greatest increase in average selling price year-on-year, and the latter achieving the greatest increase in total sales value year-on-year.
“Whilst buyer and seller sentiment might change as we approach the next Brexit date, currently there generally appears to be a healthy number of buyers and sellers alike.”