Sales to­talled£790m across South La­nark­shire

Rutherglen Reformer - - Green Fingers - Staff re­porter

The Ruther­glen and Cam­bus­lang prop­erty mar­ket has been given a boost as it was re­vealed the av­er­age house price rose seven per cent in a year that wit­nessed an in­cred­i­ble £ 790mil­lion of sales across South La­nark­shire.

The lat­est an­nual fig­ures cover the whole of 2015 and show the value of the av­er­age house has shot up from £128,683 in 2014 to £138,017.

And 5,724 sales went through over the 12-month pe­riod – a 4.1 per cent rise on the pre­vi­ous year’s to­tal of 5498.

The govern­ment fig­ures were re­leased by Regis­ters of Scot­land and show that South La­nark­shire is per­form­ing well against the hous­ing mar­ket’s rate of in­crease across the country.

In South La­nark­shire the av­er­age house rose in value by 7.3 per cent from £128,683 to £138,017 while the num­ber of sales rose by 4.1 per cent from 5,498 to 5,724.

The mar­ket value shot up 11.7 per cent from £ 707,497,491 to £790,010,205.

Home­own­ers in Castlemilk, King’s Park, Croft­foot and To­ry­glen were also likely to see an in­crease in the value of their prop­er­ties dur­ing 2015.

The av­er­age house price in Glas­gow was £138,995, up 5.9 per cent from £131,250 in 2014.

There were 11,616 sales in 2015 across the city, com­pared with 10,353 the year be­fore, with the to­tal mar­ket value ris­ing by 18.8 per cent from over £1.3bil­lion to over £1.6bn.

In terms of house prices how­ever, both coun­cils fall be­low the Scot­tish av­er­age of 169,402, which was a 3.6 per cent in­crease from 2014.

The vol­ume of sales across the whole of Scot­land went up 4.5 per cent from 93,525 to 97,701 while the to­tal mar­ket value went up 8.2 per cent from £ 15.2bil­lion to £16.5bil­lion.

Regis­ters of Scot­land’s di­rec­tor of com­mer­cial ser­vices, Kenny Craw­ford, said: “The to­tal value of the res­i­den­tial prop­erty mar­ket con­tin­ues to make a sig­nif­i­cant con­tri­bu­tion to the Scot­tish econ­omy. In 2015, the mar­ket to­talled £16.5 bil­lion, an in­crease of 8.2 per cent on the pre­vi­ous year.

“The City of Ed­in­burgh prop­erty mar­ket rep­re­sented over 17.2 per cent of this fig­ure, bring­ing in over £2.8bil­lion to the Scot­tish econ­omy. This is sig­nif­i­cantly larger than the next big­gest prop­erty mar­ket, Glas­gow, with 9.8 per cent of the mar­ket at £1.6 bil­lion.”

The lo­cal au­thor­ity area with the high­est av­er­age price was the City of Ed­in­burgh, where the av­er­age price for the year was £238,036, an in­crease of 4.9 per cent on 2014. The high­est an­nual change in av­er­age price was in West Loth­ian, ris­ing 9.1 per cent to £161,014 in 2015. The only lo­cal au­thor­ity area to show a slight de­crease in av­er­age price was East Ren­frew­shire, down 0.6 per cent to £227,369.

The statis­tics cover all res­i­den­tial sales be­tween £20,000 and £1 mil­lion, in­clud­ing those that did not in­volve a mort­gage.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.