Market still on the rise

Market still on the rise
Market still on the rise

THERE has been a marked rise of four per cent on the average property price in Scotland compared to the previous year.

With the figure increasing to £141,142 in May 2016, there was also an increase of 2.8 per cent compared to the previous month.

The latest UK House Price Index from Registers of Scotland also reveals the volume of sales is also up substantially, with an increase of 45.4 per cent in March on the previous year taking into account the LBTT increases on second homes and buy-to-let properties.

The biggest price increase over the year was in East Renfrewshire, where the average house price has risen 7.0 per cent to £201,282, while the City of Aberdeen recorded the biggest price decrease, down 9.2 per cent to £176,394. 

New build has also fared well, with an average price of £200,554 in May – up 12.2 per cent on the previous year.

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