Scottish house prices continue to defy drops in the rest of the UK

House prices in Scotland are now growing at more than double the rate of England and Wales.

Figures from Your Move show that average values in Scotland were up 4.8% annually to average £176,879.

This compares with growth of 2.1% in England and Wales, according to the agent.

Growth in Scotland was headed by the Scottish Borders, up by 5% annually to £187,879, while West Dunbartonshire saw a 4.2% increase to £115,208.

Transactions were also up, based on Land Registry figures for May, with 8,241 properties sold in Scotland, up 2% year-on-year and 6% on 2015.

More recent Land Registry figures this week showed transactions in Scotland were up 19.3% annually to 10,473 in June, compared with an 11% drop in England and 1.4% increase in Wales.

Christine Campbell, managing director of Your Move, said: “Housing in Scotland continues to shake off the uncertainty we’re seeing elsewhere in the UK economy. Here, low interest rates, high employment and prices that are still affordable are supporting continued robust growth.”

x

Email the story to a friend

Leave a Reply