- Transactions in Scotland at their highest since 2008
- Average home up £6,000 on last year as prices increase by 3.5%
- Glasgow drives annual growth
- Just five local authority areas see prices fall over the year
After a slight dip in the previous month, prices returned to growth in November in Scotland, rising 0.3% and raising average annual growth in the country to 3.5%, from the 3.3% recorded in October. That compares with just 0.9% in the same month for England and Wales. Only the South West of England at 5.3%, the North West at 3.9% and Wales at 3.6%, are growing more strongly.
The increase means the average home in Scotland at the end of November was worth £175,882, up £6,016 on a year before. Transaction levels are also strong. Sales in the eight months to the end of August were up 5.4% on the same period in 2016 at 66,786 – the highest number in close to a decade.
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: “The level of transactions in Scotland is even more notable than the consistently rising prices. If this is maintained, we can look to 2018 with considerable confidence.”