House Price Index //

Scotland powers on with house prices continuing to rise

Scottish house prices continued to rise in July. Lack of stock leads potential sellers to adopt a wait and see approach. Glasgow reaches new peak price for third month in succession.
  • Scottish house prices continued to rise in July
  • Lack of stock leads potential sellers to adopt a wait and see approach
  • Scotland continues to have the most affordable housing in Great Britain
  • Glasgow reaches new peak price for third month in succession

Scottish house prices continued to grow in July – and for the sixth consecutive month. The monthly figure edged up just 0.1%, and the annual figure, following a jump in June, climbed further to reach 4.7%.

That gives Scotland almost the highest regional growth in the Great Britain, second only to the East of England. The rise in Scottish prices persisted in spite of political uncertainty; these were the first full month of figures following the shock election result in June, which resulted in a hung Parliament.

It means the average house price in Scotland is now £175,877, up £7,829 in value in the last year.

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, said: “Glasgow’s been the driving force in the market for a number of months now, but it’s encouraging to see the capital growing almost as strongly. Even after a year’s solid growth, Scottish property overall still looks affordable relative to the rest of the Britain, and that should give us confidence for the coming months.”

Download the Scottish House Price Index (July 2017) here.

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