Home is where the value is
Revealing property price report
Larkhall is home to some of Scotland’s least expensive houses, a new report has found.
The Bank of Scotland study showed the town was thirdcheapest in the country, behind Wishaw and Glenrothes.
According to the report, the average price per square metre in Larkhall is £1071 – just behind Wishaw on £1027 per m² and Glenrothes in Fife on £1065.
That Larkhall figure is well below the Scottish average of £1529 per square metre and a whopping £1421 less than Scotland’s most expensive area, Edinburgh.
Meanwhile, Motherwell enjoyed one of the largest increases in value across the country – rising 18 per cent in the past year along with Glasgow and Alloa.
Graham Blair, mortgages director for Bank of Scotland, said: “House price per square metre can be a useful measure for house price comparison as it helps to adjust for differences in the size and type of properties between locations.”
The bank’s report says that eight of the 10 towns with the lowest prices per square metre are either central or western Scotland.
In addition to Wishaw (£1027) in central Scotland, these are: Larkhall (£1071), Irvine (£1075) and Airdrie (£1,089).
In Western Scotland they are: Greenock (£1128), Alexandria (1140), Dumfries (£1150) and Kilmarnock (£1158).
The two eastern towns with the lowest house prices on a per square metre basis are Glenrothes (£1065) and Leven (£1109), both in Fife.
Edinburgh is the most expensive property location on a per square metre basis at £2492 compared to the Scottish average of £1,529.
It is the only location in