RE/MAX Sales & Lettings

The latest publication of the UK House Price Index shows that the average price of a property in Scotland in May 2016 was £141,142, an increase of 4.0 per cent on the previous year and an increase of 2.8 per cent when compared to the previous month.

The volume of residential sales in Scotland in March 2016 was 11,017, an increase of 45.4 per cent on the previous year. Changes in Land and Buildings Transaction Tax that came into effect on 1 April 2016 for additional dwellings, such as second homes and buy-to-let properties, are likely to have contributed to this increase. The City of Glasgow showed the biggest volume of sales in March with 1,579 sales.

The biggest increase over the last year was in East Renfrewshire where the average price increased by 7.0 per cent to £201,282.

Source: Registers of Scotland