Volume of property sales falls in Galloway

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The number of house sales in Dumfries and Galloway has fallen while rising considerably in the rest of Scotland.

House sales have soared to their highest volume since 2008, according to official data.

Figures from Registers of Scotland (RoS) show the volume of residential sales north of the border rose 14.5% in the third quarter of 2015-16 compared to the same period the previous year.

A total of 28,779 properties were registered between October and December - the highest volume of sales for any three-month period since the first quarter of 2008-09.

Average residential property prices also rose to £167,734 in October to December 2015, up 1.6% on the same quarter in 2014.

Kenny Crawford, commercial services director at RoS, said: “Combined, this indicates a more robust and active property market.”

Regionally, the highest percentage rise in sales was recorded in Midlothian, with an annual increase of just over 30% to 539 residential sales compared with the same quarter in 2014.

Edinburgh recorded the highest volume of sales at 3,532, up 21.4% in the same period.

The largest percentage drop in sales volume was in Aberdeen, which experienced a fall of 12% to 1,274 residential sales.

In terms of price, the highest percentage rise was in Inverclyde, where prices climbed around 13% in a year to £132,382.

Edinburgh held the highest average at £233,255, a rise of 3.2% on the previous year.

The largest percentage fall on the mainland was in Dumfries and Galloway, which had a drop of nearly 10% to an average price of £130,275.

The total value of sales across Scotland registered between October and December increased by more than 16% to just under £4.83 billion.

This represents the highest value of sales for any quarter since the first quarter of 2008-09, RoS said.

Bob Fraser, senior property partner at solicitor estate agents Aberdein Considine, said: “The third quarter is usually the busiest and therefore accurately reflects the property market.

“The increase in activity is very encouraging and shows the continued recovery in the general Scottish market.

“Edinburgh continues to improve while areas such as East Ayrshire show a dramatic increase in values indicating a wider geographic spread in activity.”

Michelle Grant, investment director at Grant Property, said: “Today’s figures are a real indication of the buoyancy of the property market.”