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Home prices rise but more stay put rather than move

Property prices in Scotland are up but fewer people are moving home, according to the latest official data.

The average price of a home increased 3.7 per cent from £172,796 to £179,121 in 2018, according to a report from the Register of Scotland.

Despite this the number of homes changing hands dropped from 103,350 to 100,998, a drop of 2,352 or 2.3 per cent year-on-year.

In addition, the value of homes in Scotland rose by 1.3 per cent to £18.1 billion.

The highest average home prices were in Edinburgh, reaching £266,118, while East Renfrewshire was next at £259,577.

The lowest values were in Na h-Eileanan Siar (£112,044) and North Ayrshire (£121,826).

The areas where the prices changed the most were Midlothian, where they rose 8.7 per cent, and Falkirk and North Lanarkshire, where property values increased 8 per cent.

In Aberdeen prices fell  most significantly - by 1.9 per cent.

Only 185 homes changed hands for more than £1 million - 81 for cash and with a mortgage.