According to figures released today by Registers of Scotland, the average price for a residential property in Scotland increased by 7.1% in the last quarter (July to September 2007) and is now £159,981.

This compares with a figure of £149,316 in the previous quarter (April to June 2007).

The figure also represents an increase of 12.7% since the same period last year.

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Lothian region has again the highest average residential price at £205,849. This is an increase of 8% over the last quarter and up 13.4% compared to the same quarter last year.

The highest year-on-year increase, at 29.3%, is in the Grampian area, where the average house price is now £184,083.

The Glasgow area remains the largest market with sales just under £2.1 billion for the period, which is an increase of 15.1% (£271 million) over the same period last year.

The total value of sales across Scotland registered during the quarter was £6.8 billion which is an increase of 15.2% (£900 million) over the same quarter last year.

These figures are for all residential sales, including sales for cash not involving a mortgage.

(GK/JM)