Average Scottish house prices rise 4.6% over the year
Your Move has reported in its latest Scottish House Price Index that the average house price in Scotland stood at £175,941 – that’s £7,779 higher than the same time last year and an increase of 0.5% over the month. Added to this, with the number of transactions completed being up 8%, it appears that activity in the property market is strong.
Significant growth in the price of properties was seen in Edinburgh and Glasgow - where there were increases of 2.9% and 2.8% respectively over the month - supported by strong interest in affordable accommodation from first time buyers . Edinburgh’s average price of £256,737 is second only to East Renfrewshire (£262,203) which is also growing strongly, up 4.6% over the month and 7.5% annually. Glasgow City, meanwhile, has an average property price of £154,666. The city itself, but also East Renfrewshire, Renfrewshire and North Lanarkshire, as well as all neighbouring areas, saw new peak prices in the month. So, too, did the Shetland Islands.
Christine Campbell, Your Move managing director in Scotland, said:
“With strong growth in both its biggest cities, Scotland’s market is on a strong footing with first time buyers contributing to this increase in activity. The increase in transactions is also encouraging, but we need to get more properties onto the market if that’s going to continue.”
To see the full Index, please access the Your Move Media Centre at https://www.your-move.co.uk/house-price-index/june-2017-scotland/overview