Scottish house price growth outstripping Britain

House prices in Scotland increased by 4.5% over the course of 2017 – outstripping any other region in Britain with the exception of the South West of England.

Your Move/Acadata data shows the typical house prices in Scotland reached £177,161 – an increase of £7,582.

The biggest price rise happened in Glasgow (12.2%), while the Highlands and Islands also saw strong increases.

In England and Wales prices only rose by 0.2% over the same period.

Christine Campbell, Your Move managing director in Scotland, said: “The combination of low interest rates, an unemployment rate lower than that of Great Britain and a number of schemes to assist buyers has contributed to ongoing demand for property.

“The problem remains, however, that there are not enough properties coming to market to sell – nor homes being built – which, in turn, is driving prices up.

“It’s important that, in the months to come, more emphasis should be placed on building homes – particularly those that are more affordable – to ensure that the market remains active and that any potential slowdown is avoided.”


Written by: Houseladder