Sales of property in Scotland slump
Wednesday, 2 February 2011 2:29 PM
There has been a substantial drop in the number of residential properties being sold in Scotland, new figures have shown.
According to the Registers of Scotland (RoS) annual property survey, the number of Scottish homes changing hands has slumped by 7.9 per cent, from 21,498 in 2009 to 19,978 in 2010.
It was found that 27 of Scotland's 32 local authorities had recorded a fall in the number of house sales, with only Midlothian, Stirling, the Western Isles, Dundee City and Argyll and Bute witnessing an increase.
Transactions plunged by 14 per cent in Angus, while Perth and Kinross saw a dip of 5.2 per cent. In the north east, sales fell by 2.2 and 1.8 per cent in Aberdeen and Aberdeenshire respectively.
However, the smallest number of Scottish properties changed hands in Moray, where sales sunk by 23.5 per cent.
Kenny Crawford, head of commercial services at the RoS, commented: "All four property types – detached, semi-detached, terraced and flatted – saw fewer sales.
"Throughout Scotland, there are regions experiencing a rise in property prices but some areas have recorded slight decreases," he added.
Meanwhile, net mortgage-lending was recently found to have totalled just £8.15 billion in 2010, down from more than £11.3 billion the previous year, and sliding to its lowest level since records began more than 20 years ago.
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