MacNairs + Wilson

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Strong house price growth continues throughout most of Scotland

Outperforming England and Wales, the average house price in Scotland for the year to end January 2019 was £184,324; an increase of 3.2 per cent, or £5,675, according to the latest data by Your Move.

Prices in the Scottish capital have also increased to double that of any UK city, and the data revealed that Scottish property sales were four per cent higher in the last quarter of 2018.

More than half the increase in the average price over the last year can be traced to Edinburgh’s property market, with prices up 10.4 per cent annually, rising to £289,327 at the end of January 2019. This is the seventh time in 12 months that Edinburgh has recorded double-digit house price growth.

Clackmannanshire recorded the most substantial rise at 16 per cent, giving an average house price at £153,728, however, this was based on just 40 sales. There was also strong growth in East Lothian with prices up 7.1 per cent annually, Perth and Kinross seen a rise of 7 per cent, and North Lanarkshire and Midlothian increased by 5.4 per cent. These five areas accounted for 85 per cent of the country’s house price growth.

Your Move managing director in Scotland, Steve Hardaker, pointed to the promising price growth in Stirling of £209,969, which is up 6.1 per cent annually, as well as Moray (up 5.8 per cent to £172,606) and West Dunbartonshire (rise of 6.9 per cent to £126,871); all three of which are setting a new peak average price in the month.

The largest decline was recorded in the Scottish Borders, where prices fell by 15 per cent in the year to January 2019, leaving the average house price at £165,467. This was followed by an average house price of £154,739 in the Shetland Islands, down 9.5 per cent.

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