House sales up to £13 billion

19 May 2004
House sales in Scotland over the last year have topped £13 billion.

This figure comes from The Registers of Scotland report, which shows more than £3 billion was spent on residential properties in the first three months of this year alone.

This is compared with the end of 2003 total of £2.25 billion.

As for the total spent on Scottish homes during the 2003-2004 financial year, it came in at £13.14 billion - a definite rise from the previous year's total of £10.91 billion.

The Edinburgh area is currently the most expensive, with the average price rising over the last year by 21 per cent. The means prices have now reached £139,859 for a property.

Overall, the average price in Scotland is £106,932 - a 22 per cent rise since the figures were added up at the end of the 2002-2003 financial year.

The Central Scotland region saw the highest year-on-year increase, at 31 per cent. Houses there now sell for an average £96,974.

Additionally, the Glasgow area represented the highest overall sales total, with a massive £300 million, or a 43 per cent rise on the first quarter last year.