THE value of Scotland’s commercial property sales in the first quarter of 2016 fell by more than 40 per cent, according to new figures from Registers of Scotland.

Analysis by the Scottish Property Federation shows £619 million of sales in the first three months of the year versus almost £1.1 billion in the last quarter of 2015. However year-on-year, the value of sales is fractionally ahead.

“The turn of the year is usually slow and an annual comparison indicates a steady performance nationally,” said David Melhuish, director of the Scottish Property Federation.

Edinburgh saw a 52 per cent drop in sales value to £132m over the quarter, but an 18 per cent increase over the year.

The Aberdeen market continues to readjust, with £24m in total sales for the quarter, behind Renfrewshire (£25m), South Lanarkshire (£29m) and Fife (£34m).