Scottish property market improves

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Data from the latest Move with Us Residential Market Review has revealed the property market in Scotland is showing positive signs of improvement.

At the end of June, average asking prices had increased by 2.03% to £162,828, which is approximately £2350 more than in July 2012, marking a one-year high.

Properties sold nearly 30% faster in Q2 when compared with Q1. By June, the average number of days to sell a property dropped significantly by 52 days to 125 days.

Robin King, director at Move with Us, said: “With improving selling times, and prices increasing, Scotland has experienced some positive market improvements. Selling times dropped by more than 50 days in Q2, highlighting a positive outlook for sellers in this region.”

The figures were derived from the Move with Us Residential Market Review, Q2 2013 and is produced in conjunction with Home.co.uk. The Move with Us Residential Market Review is based on a monthly analysis of more than 750,000 property instructions advertised across 11 regions in the UK.

This data represents the majority of property for sale on the open market in the UK at any given time and it is broken down into House Price Index (HPI) regions.