DCSIMG

Scotland’s new hotspot for property prices revealed

Waiting for Video...
 
  • by SCOTT MACNAB
 

IT IS the sleepy region nestling in the Campsie Fells which is now the most expensive place to live in Scotland.

East Dunbartonshire, which includes the exclusive neighbourhoods of Milngavie and Bearsden along with Kirkintilloch and Lenzie, now carries an average cost of £219,700 for potential buyers.

The area has overtaken nearby East Renfrewshire – including hotspots like Clarkston and Newton Mearns, prized for high-performing state schools – as the country’s most expensive area.

Latest official figures yesterday indicated that Scotland’s housing market continues to return to the levels last seen before the crash six years ago.

The number of homes sold hit 17,828 between January and March – the highest volume of sales since 2007-8.

But although prices are up in some areas, others are seeing significant falls in value.

Housing minister Margaret Burgess said: “This is the third successive quarter that volumes are up over 22 per cent on the previous year, illustrating consolidated growth in the volume of sales.

“The Scottish Government is taking action to stimulate the housing market through our help to buy (Scotland) scheme.”

So far, 145 housebuilders have registered with the scheme and six lenders are offering mortgages under help to buy.

Ms Burgess added: “So far there have been 874 completed sales, demonstrating the popularity of the scheme.”

Edinburgh recorded the highest number of sales with 2,002 homes snapped up, an increase of 22.1 per cent on the previous year.

The price of housing is rising in most parts of Scotland – although a third of council areas are still experiencing falls.

The overall Scottish rise of 3.5 per cent takes the average price up to £153,352.

The highest percentage rise was recorded in Inverclyde, with an average price of £128,340, an increase rise of 24.9 per cent compared with the same quarter the previous year.

And the soaring cost of living in Aberdeen is illustrated by the £27,000 which has been added to the cost of the average home in the city, at £205,365.

But just over one-third of Scotland’s council areas are still experiencing falls.

The largest percentage fall in price was in Midlothian, which showed a drop of 14.3 per cent to an average price of £157,690 – wiping £26,000 off the cost of the average home.

Other areas, including Dumfries and Galloway and Argyll and Bute, have also seen their homes fall in value by about £10,000.

The total value of sales across Scotland registered in the quarter increased by 27.2 per cent compared to the previous year, to more than £2.73 billion.

• In the video above, Registers of Scotland’s Director of Commercial Services, Kenny Crawford, gives his view on the new house price data

SEE ALSO:

Biggest rise in Scots house prices for six years

 

Comments

 
 

Back to the top of the page