- Edinburgh house price growth slows but still up 10.6% annually
- 29 of 32 local authorities show annual growth
- Average house price is up by more than £10,000 in a year
- Dumfries and Galloway up 12.3% annually
Annual house price growth in Scotland in May stood at 5.8%, more than triple the rate in England and Wales and well above even the fastest growing region of the North West, where prices are up 3.7%. The average home value in Scotland stood at £183,626 in May. After a first quarter in which house prices grew almost 3.5%, including 1.7% in February alone, prices slowed in April and fell 0.2% in May – the first monthly drop since last July yet they remain up £6,681 this year and have risen more than £10,000 since last May.
Alan Penman, business development manager for Walker Fraser Steele, one of Scotland’s oldest firms of chartered surveyors and part of the LSL Property Services plc group of companies, said: “Whilst house price growth in Edinburgh has slowed, it is clear that, with a 10.6% increase over the year, it has great influence on the overall figures.”