House prices are still well ahead of last year

Data released by the Register of Scotland showed that the average price of residential property between January and March was �139,836.

The previous quarter of October to December 2006 recorded a figure of �143,055.

However, the figure also represented a 12.3% rise compared to the same period last year.

House prices were again highest in Lothian region, where the average price for properties registered was �178,139, a decrease of 1.5% compared to the last quarter and up 11.3% on the same quarter the previous year.

The highest year-on-year increase, at 28.1%, was in the Grampian area, where the average house now sells for �150,627.

The Glasgow area remained the largest market with sales of just over �1.4bn for the period, an increase of almost �145m or 11.3% over the same period last year.

The total value of sales across Scotland registered during the quarter was just over �4.5bn, which equated to an increase of more than �660m or 17% over the same quarter last year.