House prices are on the up

Perth and Kinross sees 6.3% rise

House prices in Perth and Kinross have gone up by 6.3 per cent over the last year.

This has taken the average house price in the region to £198,374.

These latest figures from Your Move also mean house prices on average in Perth and Kinross are higher than elsewhere in Scotland, with the national average house price costing £177,161.

This rise in Perth and Kinross is bigger than the region’s neighbours, with Dundee City only rising by 0.9 per cent to £141,783, and Fife rising by 5.9 per cent to £158,046.

James McKay, branch manager of Aberdein Considine on Perth’s High Street, said: “We have seen a strong Perth market between £100,000 and £250,000 so I am not surprised to learn that the average sale price has increased by over six per cent.

“We are experiencing strong demand for first time buyer houses in areas such as Oakbank, Scone, Craigie and Bridge of Earn. A shortage of stock in these areas keep prices on the rise and I cannot see any let up in this demand over the next few months.”

Christine Campbell, Scottish managing director for Your Move, added: “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.

“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.”

The only regions in Scotland with a higher house price tag are Aberdeenshire and Aberdeen City, Stirling, East Renfrewshire, East Dunbartonshire, East Lothian and Midlothian, and the City of Edinburgh.

This comes as Perth’s Galbraith property agents report selling double the number of properties in the last quarter compared to the previous quarter.

Scott Holley from the estate agent said: “Realistic pricing is still very much key as buyers are very market aware. There is a shortage of good rural properties for sale throughout Perthshire and Kinross-shire and our mailing list of registered buyers are keen to view a range of rural properties from cottages to farmhouses, country houses and plots.

“The desire to buy a rural home with a few acres of land, a smallholding or small farm continues to flourish and the demand is not being met by currently available properties.”

He continued: “Buyers have been registering with us from all parts of the UK. Perthshire is a very popular county for a relocation, either for work, to be closer to family, or indeed for a change of pace in life meaning properties in all price brackets are in high demand from these buyers.

“The second home market in Perthshire also remains buoyant. Owning a Scottish holiday home remains attractive, particularly property in a highly scenic setting with attractive views and the countryside on the doorstep.”

We are experiencing strong demand for first time buyer houses