Airdrie & Coatbridge Advertiser
Monklands suffers dip in house prices
Towns in Lanarkshire witnessed both the highest and lowest average yearly house price increases in Scotland during 2021.
Airdrie, Coatbridge, Motherwell and Hamilton all feature in sales data tables published by the Bank of Scotland.
House prices in Motherwell increased by more than any other place in the country; in cash terms, the average price of a property there jumped by £26,103.
Last year the average price in the North Lanarkshire town rose from £151,105 in 2020 to £177,118 in 2021.
The increase was revealed in data taken from the Halifax and Bank of Scotland (HBOS) House Price database which covers the 12 months to October each year.
In 2020, only two towns in Scotland showed average price rises in the HBOS data – last year there were 15 which witnessed increases.
Monklands’ towns showed the lowest rate of growth according to the Bank of Scotland data.
Average house prices in Airdrie decreased by 3.8 per cent – down to £150,874 from £156,897 in 2020.
In Coatbridge the average price dropped from £149,315 to £145,880, which was down by 2.3 per cent on the previous year.
Edinburgh and Glasgow were ninth and 10th respectively in the places to show the lowest average growth rates.
So-called “satellite” towns such as Paisley and Livingston witnessed higher price increases than their larger city neighbours.
The average rise across Scotland was 8.8 per cent, with prices increasing from £191,017 in 2020 to £207,778.
Graham Blair, Mortgages director, Bank of Scotland, said: “Scottish house prices have enjoyed another bumper year, with growth outperforming the UK average and properties in almost every town now worth more than 12 months ago.
“The feedback we’re getting from customers matches what we see in the data.
“Prolonged working from home has influenced where people want to live and the type of property they want to own.
“So while our major cities continue to be attractive, with commuting now less of a priority, areas
that offer more space and better affordability have experienced increasing demand from buyers.”
prolonged periods working from home has influenced where people want to live