Anderson Bain - andersonbain LLP News & Updates

Stay updated with Anderson Bain's latest news and expert commentary on conveyancing and property law developments. Explore articles from our experienced team.
1 minute reading time (284 words)

Value of the Scottish Housing Market

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:

  • New-build property sales accounted for 11.7% of the all-Scotland sales in 2017-18, with a total of 11,969 sales.
  • The proportion of residential sales being registered with a mortgage fell from 84.5% in 2007-08 to 68.3% in 2016-17.
  • Non-residential sales had a total market value of £4.3 billion in 2017-18.
  • The annual volume of commercial leases decreased by 38.5% between 2007-08 and 2017-18, falling from 1,178 to 725.

“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.”

Contact Us

For expert legal advice on buying or selling property in Scotland then contact our specialist property lawyers today.

Proximity to a Supermarket Adds Value to Property
Average House Prices On the Move in Scotland

By accepting you will be accessing a service provided by a third-party external to https://www.andersonbain.co.uk/

Make an enquiry

Complete our contact form and we will get back to you as soon as possible

Your Name* Please let us know your name.
Email Address* Please let us know your email address.
Phone number* Please write a subject for your message.
Which service do you require? Invalid Input
Invalid Input
Message* Please let us know your message.