Scotland's property prices on the increase

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Scotland's property prices on the increase

House prices are on the increase throughout Scotland with the average standing at £142,355, says Registers of Scotland following new research.

This represents a rise of 8.9 per cent in the third quarter, compared to an average house price for the preceding quarter which stood at £130,681 and an increase of 12.5 per cent on the same period in 2005.

Lothian has the highest average house price in Scotland once again with £181,401 and the highest year-on-year increase can be found in the Grampian region of the country that saw a 16.6 per cent rise.

Though not recording the highest average house price, Glasgow retains the largest market as cumulative sales in the city approach £1.75 billion for the third quarter.

According to the Royal Institute of Chartered Surveyors, Scotland is second to Northern Ireland in terms of property price rises within the past month, with London in third place.

Registers of Scotland is an executive agency that is in charge of compiling and maintaining property records for the country.

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