Residential price growth raised in Scotland

scotlandResidential price growth in Scotland is growing faster than in England. According to the Move/Acadata index, Prices increased by 1.5% month on month, taking the price of an average property to £172,561 and are now 2.9% higher than a year ago. It also shows that sales were down 3.6% in the third quarter of 2016 compared to the same period in 2015 but comfortably ahead of the two preceding years.

Christine Campbell, Your Move managing director in Scotland: “Scotland is proving to be a resilient market. With the recovery of interest in prime property, we’re seeing areas of strong growth across all price points, the strength in the Scottish market is broad based, though. In West Dunbartonshire prices increased by 18.8% to an average of £130,305 in October while in East Dunbartonshire prices were up 7.4% to an average of £245,427 and are up 12.3% year on year, even the cheaper areas have seen growth. In Na h-Eileanan Siar, the cheapest area of Scotland with average prices of £109,937, has seen prices rise 10.8% annually while in the Shetland Islands prices are up 12.8% year on year and in East Ayrshire up 9.8%.”

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