Borders houses sell for less as national figures increase

The average price of a house in Scotland over the last three months was almost £168,000, the highest figure recorded for the quarter, according to official statistics.

By The Newsroom
Friday, 31st July 2015, 11:49 am
Cullen Kilshaw, solicitors and estate agents in Galashiels, The Scottish Borders.
Cullen Kilshaw, solicitors and estate agents in Galashiels, The Scottish Borders.

But in the Borders, while prices dropped by 5%, there is a higher number of homes being sold.

The Registers of Scotland (RoS) report shows a 3.5% rise in prices covering April to June compared to the same period last year.

The average price of houses in Scotland being sold is £167,765 – the top figure registered for these three months since RoS began compiling quarterly statistics in 2003.

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The total value and volume of sales across Scotland was up compared to the previous year to more than £4.14billion. Nationally, flats showed the biggest increase in average price and sales volume as prices rose, while detached and terraced properties both saw decreases in average price and volume.

But in the Borders it seems houses are selling for less.

Ron Hastings, of Hastings Property Shop, said: “Property is selling well in the Borders and despite recent comment on average prices recorded being down, the reality is more are selling at the lower end and this clearly has a dramatic effect on the average price.

“With an increase in sales of around 30% over the same period, it clearly shows there has been a huge increase in the level of activity.

“The prices recorded are also based on sales that have actually been registered, and generally, with a 2-3 month lag between the agreed sale and the transaction going on the Land Registry in a fast moving market, the prices reported are already out of date.

“From our perspective at Hastings Property Shop, we have seen an increase in prices and total values sold over the last three months in a row and conditions have not been as good since 2006.”

He added: “The market activity has also produced sales across the range with a strong surge in traditionally slower selling areas. Whatever the weather, it’s clearly not dampened the enthusiasm of the buyers.”