Scotland leads the way
- Scotland house price growth outpaces all other regions in October
- First time buyers account for more than 50% of the Scottish market
- High priced £325k+ home sales rebounding
- Value property also stays strong
In the latest Your Move/Acadata House Price Index, it is reported that, in October, house prices grew at their strongest rate since March 2015 - up 1.5% during the month which is an increase of nearly £2,500 on the average property price of £172,561. On an annual basis, prices are now 2.9% higher than they were last October and 2.1% higher than in September 2016.
The Index has also reported that there were 26,544 transactions in the third quarter of 2016 - a reduction of 3.6% on 2015 - but comfortably ahead of the two preceding years which saw a slump following purchases brought forward ahead of April’s additional 3% Land and Buildings Transaction Tax (LBTT) surcharge on second homes.
Christine Campbell, Your Move managing director in Scotland, said: “Scotland is proving to be a resilient market. With the recovery of interest in prime property, we’re seeing areas of strong growth across all price points.”