The total value of the residential sales market in Scotland from 2007-08 to 2017-18 was £161.3 billion, according to the latest Property Market Report from Registers of Scotland.
The newly published report details the trends in the Scottish land and property market from the pre-financial crisis period in 2007-08, through the subsequent economic downturn, to the latest trends in sales volumes and prices up to 2017-18.
Other key findings of the report include:
“The Scottish property market is a significant component of the Scottish economy,” commented RoS’ Business Development and Information Director, Kenny Crawford. “In 2017-18, the total value of residential sales alone was £17.9 billion, an increase of 7.8% when compared with 2016-17.”
“We’ve also seen an increase in average house prices, up 13.2% when comparing 2017-18 with 2007-08,” he said. “Overall, house prices remained relatively stable until 2012-13, but have been generally increasing since then.”
“The volume of residential sales in 2017-18, at 102,430, remains substantially lower than the 149,145 sales recorded in the pre-financial crisis period in 2007-08,” he added. “However volumes in 2017-18 were the highest since 2007-08 and have been increasing year on year from the recent low of 70,507 in 2011-12.”
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