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Average Scottish Property Prices Hit All-Time High

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from bbc scotland

Average property prices in Scotland have hit an all-time high, according to official figures.

The last quarter saw the average property price rise to £163,360, which was the highest on record and an increase of 5.8% on the same period in 2009.

This was despite sales volumes being only half of what they were at their peak in 2007.

The figures were released by Registers of Scotland (RoS).

A total of 28 of Scotland's 32 local authority areas saw an increase in average prices.

Eight of them - Aberdeen City, Aberdeenshire, East Lothian, East Renfrewshire, City of Edinburgh, Inverclyde, Scottish Borders and West Lothian - returned their highest ever average price.

However, East Ayrshire, Eilean Siar (Western Isles), Moray and Perth and Kinross local authorities experienced a fall in average property prices.

Busiest days

Kenny Crawford, head of commercial services for RoS, said: "The number of properties sold over the last quarter is up on the same quarter last year by 4.9%, a difference of nearly 1,000 sales, but this is still barely half of the number of properties that were changing hands in the busiest days for the property market in 2007.

"Interestingly, it is the detached and semi-detached properties that have recorded the highest increase in value while the volume of sales has been strongest for semi-detached and flats."

The City of Edinburgh reached its highest ever average property price at £228,697, up by 9.9% on the same period last year, while the average price in the City of Glasgow increased by just 2.9% to £143,255.

RoS is the government department responsible for compiling and maintaining registers relating to property and other legal documents in

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snip

"Interestingly, it is the detached and semi-detached properties that have recorded the highest increase in value...

So well-off people are paying more for the houses they buy. Does this not simply chime with the perception that the well-off are getting better-off while those who aren't well-off have less and less?

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So well-off people are paying more for the houses they buy. Does this not simply chime with the perception that the well-off are getting better-off while those who aren't well-off have less and less?

Precisely, the looters have kept their bags of swag.

No public sector pay cuts, Bankers still raking in bonuses for fictitious profits, 55% rises for FTSE chiefs etc. etc.

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Even the usually massively VI Scotsman are trying to explain why these figures are on the up - when in reality they are not.

Scotsman explanation

Lower end = almost non existant sales.

Upper/middle end = half what they were - but at least something is selling.

RESULT - Average price is skewed upward.

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Even the usually massively VI Scotsman are trying to explain why these figures are on the up - when in reality they are not.

Scotsman explanation

Lower end = almost non existant sales.

Upper/middle end = half what they were - but at least something is selling.

RESULT - Average price is skewed upward.

Which goes along with snugglebear's the well off are getting better off and the less well off have less - the inequaity gap is growing.

HPI was driven by cheap credit at the bottom where people were trying to compete in a market also driven by huge pay rises nearer the top. The bottom has dried up but the looters at the top have kept their bags of swag so some upper/middle end are still selling.

Now we have such as VAT rising which hits the poorest harder.

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hmm i live in aberdeenshire. neighbours house up for sale at previous high 210k now down to 195k after 6 months on the market. its a very nice house 3 bed semi massive garden. flats in aberdeenshire are arround the same price as 2 years ago when i was looking at them but the semi detached are up a little. awful lot been on the market for a long time though.

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....people migrating North to allow their families to qualify for free university education.....?..... :rolleyes:

The internet has meant people can work more remotely?

Some people leaving areas further south that now have lots of immigrants?

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  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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