THE number of homes sold in Scotland has reached its highest level since the crash in the housing market brought about by the economic downturn.
Official figures show that sales grew by 6 per cent between July and September, the largest amount of growth since 2008.
The total value of homes being sold also hit a seven-year high, with £4.74 billion worth of property changing hands.
However, house prices have fallen slightly by half a percent compared to last year, partly because of the greater number of homes passing through the market.
Figures released by Registers of Scotland (RoS) have revealed the hotspots where property markets have been booming during the past 12 months.
Top of the list was West Lothian, where the biggest percentage rise in volume of sales of 23.1 per cent was recorded. The town, which was ignominiously nominated for the bad architecture award The Plook on the Plinth in 2013, saw sales rise from 905 compared to 735 the previous year.
Overall, the largest property market was found in Edinburgh where there were 3,520 sales, an increase of 9.6 per cent in a year.
The capital was also the most lucrative area, with total sales earning more than £805 million between July and September, an increase of 6.2 per cent on 2014.
In Glasgow the volume of sales rose by nearly 10 per cent, while house prices grew by 1 per cent to stand at an average of £140,426.
Across Scotland, the average property price was said to be around £169,400 with the biggest rises coming among semi-detached properties.
But slight decreases were also noted among detached homes, terraces and flats, dragging down the typical house price recorded by RoS.
The troubles and job losses affecting the oil industry were reflected in a fall in house prices in Aberdeen, where the average value was said to have fallen by 2.2 per cent.
The surrounding area of Aberdeenshire showed the largest decrease in total market value, with a decrease of 16.6 per cent to just over £323 million, while the average house price dropped 3.5 per cent.
Estate agents said that the latest RoS figures showed growing confidence in the property market, with househunters now looking beyond traditional hotspots in the big cities.
Sean MacMillan, an Associate Aberdein Considine, said that the surge in interest in West Lothian was a clear example of buyers willing to go beyond the beaten track.
He said: “It’s no real surprise that West Lothian continues its steady increase in both volume of property sales and in sale prices when considered in the wider context of the central belt housing market.
“Over a quarter of workers living in West Lothian work in Edinburgh. The average price of a detached home in Edinburgh has risen to almost £400,000 and the average flat in Edinburgh now costs almost £200,000, so it is no wonder that more people in the capital are considering the benefits which come with living in West Lothian where they can get a great deal more ‘bang for their buck".
Rettie & Co’s Director of Research, Dr. John Boyle, added: “These latest statistics show that the housing market in Scotland is turning the corner. "The sharp rise in activity is more than a blip as the fundamentals are now in place to ensure a full recovery, with improving economic activity levels, consumer sentiment, bank lending and new build activity helping to raise the market. Stable price levels are helping the market to recover.”
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