Scotland house prices increase by over £400 in December with 2.2% annual growth
- Average house prices increase by over £400 in December.
- Shetland Islands surge 10.9% in December to new peak.
- East Renfrewshire finishes 2016 ahead of Edinburgh as highest priced area.
- New data shows September sales volumes highest in nine years.
In its latest Scottish House Price Index – which reported on the rental market in Scotland in December 2016, Your Move reported that house prices kept edging up - increasing 0.2% in December – a £408 increase on the average home which then stood at £172,204. Overall that leaves the average price in Scotland £3,687 up on the same time last year, and annual growth in prices at 2.2%.
Scotland still trailed the 3.6% annual growth in England and Wales as a whole, however, but is outperforming Wales (2.1%), the North East (where prices were flat over 2016), and London (1.3%). The market had largely seen steady growth since the spike in anticipation of the introduction of the Land and Buildings Transaction Tax in April 2015 and the subsequent fall in prices.
Christine Campbell, Your Move Managing Director in Scotland, said:
"Scotland’s market continues to make steady progress, not hitting the highs of some other parts of the UK, but also missing the lows. It entered the new year in a good place.”