SCOTTISH property prices have risen by an average of 6 per cent in the third quarter of 2009, according to new figures.
But while the increase adds to hopes of a sustained recovery, sales remain sluggish with house prices marginally lower than this time last year.
Registers of Scotland – which keeps a record of all sales – reported that between July and September,
the average cost of a house in Scotland was £154,453 – up from £145,553 in the previous quarter.
But the figure represents a 3.6 per cent year-on-year fall from an average price of £160,155 during the third quarter of 2008.
David Marshall, of the Edinburgh Solicitors' Property Centre, said that the results show that this summer's UK wide month-on-month price increase has eased, curbing fears of excessive gains.
He said: "More sellers are showing a willingness to test the market again, but the increase in demand from buyers will be quickly matched by the increased supply from sellers.
"While house prices are now 10-15 per cent down on levels observed at the peak of the market, there is a large degree of price consistency both regionally and across property types, with similar trends observed throughout the UK."
Last month, The Scotsman reported that figures from lender Nationwide showed a year-on-year rise in house prices for the first time in 19 months.
However, the Registers of Scotland report is not necessarily contradictory as it records completed house price sales, which lag behind mortgage applications.
Sheenagh Adams, the Keeper of the Registers of Scotland, said the new figures showed "signs of improvements" in the Scottish property market – despite the year-on-year drop.
She said: "RoS is the only organisation that holds the full picture on what's happening in the property market as we register every sale and property transfer in Scotland.
"These latest figures show signs of improvement in the property market, although we received less transactions than during the same period last year."
The report puts total sales across Scotland at £3,103 million – an increase of 31.4 per cent from the previous quarter of 2009 – but records nearly 5,000 fewer sales than in the third quarter of 2008, a drop of 22.6 per cent.
The largest increase was in Perth and Kinross, while Renfrewshire showed the smallest sign of recovery with prices falling by 3.7 per cent.
The figures cover all residential sales in Scotland.
