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Written by rosalind renshaw

Prices in central Scotland dipped 3% in the first quarter of this year compared with the same period in 2008, says the Glasgow Solicitors Property Centre.

It says that selling times also lengthened, but new instructions and sales are both up.

GSPC chairman Michael Samuel said: “In the first three months of 2010 we have seen rising sales of homes that have been on the market for some time. Until recently, these properties had been ‘stuck’ on the market and so did not show up in the sales data. Now that activity has picked up to the point at which they are selling, they are included in our results and are depressing average selling prices. 

“This is a result, however, of stronger, not weaker, demand.

“There are many apparent contradictions we are currently seeing in the property market. Sales are almost 14% higher than over the same period last year yet selling times have, apparently, lengthened. 

“In some areas, properties are selling at closing dates for figures well above their Home Report valuation, yet average selling prices are lower.

“Those contradictions only make sense when you realise that rising sales will include some properties that had previously proved difficult to sell.”

Comments

  • icon

    Same old, same old...
    As usual, comparing average prices of sales with average prices of sales, not 34 Acacia Avenue with 34 Acacia Avenue.
    Interesting wording: "...we have seen rising sales of homes that have been on the market for some time." I have never, in 32 years, known of homes that were previously unsold suffering from FALLING sales...
    Anyone out there know different, or do we all agree Mr Samuel should learn to choose his words more carefully?

    • 08 April 2010 15:50 PM
  • icon

    Prices fell for houses SOLD BY THE GSPC members, not for the whole market.

    What percentage of the market did the GSPC sell? I don't know, and I don't think they do either......

    • 07 April 2010 17:19 PM
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