In the three months to 31 July 2008, the quarterly price index for the average domestic property in Scotland rose by 1.6% to give an average mix adjusted Scottish house price of £172,185. On an annual basis, Scottish house prices have risen by 9.3%. Conversely, the number of house purchase transactions within the Scottish House Price Monitor has fallen by 27% since the same period last year.
Once again, the north of the country is in a strong position. Despite recording a quarterly fall of -2.8% Aberdeen is reporting a strong annual increase of +8.8% and the North excluding Aberdeen a strong +20.6% increase over the year.
The only cities to demonstrate an increase in their quarterly figures are Edinburgh at +1.9% and Glasgow at +0.6%. All areas in Scotland are reporting rises in their annual figures, ranging from +2.3% to +20.6%.
The price movement across Scotland is composed of price changes in different property types. In contrast to the previous quarter, flats are showing a decrease of -1.7%, and detached properties a decrease of -1.2%. Terraced properties are showing a quarterly increase of +5.5% and semi-detached properties are showing a quarterly increase of +7.2%.
