- Two local authority areas set new peak prices in May 2016
- Market shakes off buy-to-let surcharge to rise 0.9% in the month
- Brexit impact yet to be felt – but the sentiment is still one of ‘business as usual’
The market continued to make up ground in May. Recovering from a blip in April, average prices continued their long recovery since last June. The increase of 0.9% means that the average price stood at £172,119, but still slightly down on the level a year ago (£180,439).
The May figures – the latest available – give little clue as to what impact June’s vote to leave the EU will have on the market, though. Given the time between purchase decisions and completions, reaction to the vote may only begin to become clear after the summer.
Source: Your Move/ Acadata Scotland House Price Index, May 2016