Scottish house prices continue to rise

Ryan Fowler

August 18, 2017

Average house prices in Scotland  jumped 0.5% in June with annual growth up to 4.6%, from 2.9% last month, according to the latest Your Move figures. 

That’s well above the 3.3% in England and Wales recorded in June.

Prices in Scotland have risen for the fifth month in succession. This is in contrast to three months of falling prices to June in England and Wales, with widespread annual increases and nearly half of all local authority areas seeing price rises over the month.

House prices rise in the UK but London sees slowest growth

The latest available figures in Scotland don’t take account of the post-election period, but with transactions estimated to be up 8%, they show the country entered it on a strong footing.

The average house price in Scotland now stands at £175,941, up £7,779 over the year.

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.”

Alan Penman, business development manager for Walker Fraser Steele, one of Scotland’s oldest firms of chartered surveyors and part of the LSL group of companies, added: “It’s good to see growth at both the top of the market and in more affordable areas.

“There seems to be a particular hot spot around Glasgow – both the city itself and its neighbouring local authorities are all growing robustly.”

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