Registers of Scotland’s (RoS) recently published its fifth annual report detailing trends in the property and land market in Scotland over the last 10 years makes interesting reading.
Spanning as it does a period that takes in the pre-financial crises period in 2007-08, through the subsequent economic downturn to the latest trends in sales and prices up to 2016-17. Total value of residential sales during the period was £16.7bn.
Key findings in the report include: New-build property sales accounting for 12 per cent of the all-Scotland sales in 2016-17 (12,014 sales); a 36.2 per cent drecrease in the number of £1m plus properties when comparing 2007-08 with 2016-17 (although this should be seen in the context of a drop of 32.8 per cent in total sales volumes between these years); and a drop of 30.3 per cent in the number of sales being registered with a mortgage when comparing 2007-08 with 2016-17.
Interestingly, terraced properties show the biggest increase in price across the decade (up 4.7 per cent), while flats represent the largest share of the market, making up 36.7 per cent of all residential sales in the last 10 years. The full 10-year property market report can be downloaded free at www.ros.gov.uk.
Source: heraldscotland