Property prices in Scotland fall in first quarter of 2007
The average price for a residential property in Scotland decreased by 2.2% in the first quarter of 2007 according to figures released by Registers of Scotland.
The average price of residential property at the end of the first quarter stood at £139,836 compared to £143,055 for the last quarter of 2006. However, year on year, house prices are 12.3% higher than they were for the corresponding period in 2006.
The most expensive property in Scotland is still in the Lothian region, where the average price for properties registered is £178,139, a decrease of 1.5% compared to the last quarter and up 11.3% on the same quarter the previous year.
Grampian was the only region to record house price rises during the first three months of 2007, with an increase of 2.9% since the start of the year. Grampian also has the highest year on year increase - 28.1%.
Prices in the Highlands And Islands and the Central region were more or less unchanged during the first quarter of
2007, but South West Scotland saw a 5% drop in house prices during the same period and prices in Glasgow were down 3.3% and in The Borders down 2.6%.
South West Scotland, which saw the biggest quuarterly fall in prices, has the lowest average house price in Scotland of £121,148.
filed: 18 May 2007
