Average house prices in Scotland now stand at £175,070
In the latest Your Move/Acadata House Price Index it has been revealed that average house prices in Scotland grew by 0.6% in May - and by 3% over the year – to reach £175,070.
Strong demand from first time buyers and weak supply appear to be driving activity in the market, with Glasgow also contributing significantly to the average price figure.
Christine Campbell, Your Move managing director in Scotland, said: “After a surge in April, Scotland has returned to its long-term pattern of modest, but fairly steady price rises. That hides wildly different fortunes in its various areas, though, and price increases are heavily dependent on a few key areas.
“With suggestions of possible reforms to LBTT rates, it will be interesting to see how this impacts the Scottish market in coming months.”