House Price Index //

Scotland slow but steady

House prices drop for second month, but still up 4.4% annually. Edinburgh prices up 8.3% in a year. Transactions in Q1 2018 are 11% lower than Q1 2017.
  • House prices drop for second month, but still up 4.4% annually
  • Edinburgh house prices up 8.3% in a year
  • Transactions in Q1 2018 are 11% lower than Q1 2017

House prices in Scotland have fallen for the second month in a row, down 0.7% in June, with transactions 11% lower in the first quarter of the year than 12 months before. Nevertheless, annual growth is still 4.4%, despite a third month in which the rate has slowed. At the end of June, the average price stood at
£182,163, which was £7,759 up on twelve months earlier. That means Scotland is still powering ahead of the rest of Britain, with prices in England and Wales in the year to June up just 1.7%. Only Northern Ireland (up 4.2% annually) comes close.

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: “Despite a slowdown, Edinburgh remains the foundation of the market in Scotland, showing a market with considerable resilience.”

Download the Scottish House Price Index (June 2018) here.

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