The price is right for our homeowners
Average cost of Renfrewshire house climbs £5k
Homeowners in Paisley are safe as houses, with prices climbing by almost £5,000 on last year.
The average price of a house in Renfrewshire rose to £119,553 in November, compared with £114,564 in the same month of 2016.
Figures released by the Registers of Scotland shows Buddies witnessed a 4.4 per cent hike, worth £4,989 to every family.
The area’s real estate performed better than the Scottish average which showed property values increasing only by 3.6 per cent.
Registers of Scotland business development and information director Kenny Crawford said: “Average prices in Scotland continued their upward trend in November with an increase of 3.6 per cent when compared to November 2016.
“Average prices have been steadily increasing each month since March 2016, when compared with the same month of the previous year.”
The number of houses changing hands in the area has also kept pace when compared to last year.
The volume of sales in Renfrewshire was 340 in September 2017, almost matching 342 in August in the previous year.
Property bosses said sales throughout the country decreased by 2.5 per cent in August, showing the property market is holding up well in the area.
Kenny Crawford added: “The annual decrease of 2.5 per cent when compared with September 2016 in Scotland is in the context of greater decreases across the rest of the UK.
“The cumulative volume of sales for Scotland for the financial year to date – from April to September 2017 – was 54,893. This is an increase of 9.1 per cent on the equivalent year to date position for September 2016.”
Registers explained that, due to a period of two to eight weeks between completion and registration of sales, these figures are the latest available.
The average price of a property in Scotland in November 2017 was £145,992 — up 3.6 per cent on the previous year’s value of £140,852.
Paisley’s neighbouring council area, East Renfrewshire, witnessed a 1.2 per cent rise in property prices, with the average home valued at £223,995, up from £221,440 in the same month of last year.
Glasgow witnessed a rise of 6.6 per cent, with the average house prince going up to £123,812 from £116,129 on last year.
Inverclyde saw property prices climb by 6.9 per cent, with the average cost of a house now sitting at £100,400, up from £93,936, on last year.
Average price increases were recorded in 24 out of 32 local authorities in November 2017, when comparing prices with the previous year.
The biggest property losers live in Aberdeen City and Argyll and Bute, where unlucky owners saw prices fall by 4.2 per cent to £163,489 and 3.9 per cent to £127,373 respectively.