The average price of a Scottish new home rose by 5.1% in January, bucking the general trend for faltering prices in the rest of the UK.

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A typical Scottish home now costs £263,655 compared to £250,896 at the same time last year, according to figures from SmartNewHomes.com.

However, average prices are down slightly by 0.2% if figures for the last three months are analysed and 0.3% over the last year.

In Edinburgh, the average price (£321,882) of a new property soared by 4.4% last month, while values increased by 3.2% (£275,006) in Glasgow.

New semi-detached houses recorded the highest price increases at 4.4% and detached homes the biggest price drop, down by 12.8%. Detached houses still make the biggest proportion of the new homes mix at 78.3%.

‘The average price in Edinburgh still is higher than Scotland and Glasgow overall at £321,882, up 4.4% on last month, as it continues to be a popular place to live.

‘In the light of renewed interest and regeneration in other parts of Scotland, especially Glasgow with its successful bid for the 2014 Commonwealth Games, the demand for homes is increasing,’ says David Bexon, managing director of SmartNewHomes.com.

Glasgow hopes to emulate Manchester’s recent success with the Commonwealth Games, where prices rose after 2002 when it hosted the event and boosted ongoing regeneration.

‘With prices in Glasgow up 8.2% on this time last year, beating Edinburgh and the rest of Scotland, the city is becoming increasingly desirable,’ adds Mr Bexon.

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