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).
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here