T

The Herald - Scotland's Homes - - Front Page - THE VOICE OF PROP­ERTY Bev­er­ley Brown

HERE has been a marked rise of four per cent on the av­er­age prop­erty price in Scot­land com­pared to the pre­vi­ous year. With the f i gure in­creas­ing to £141,142 in May 2016, there was also an in­crease of 2.8 per cent com­pared to the pre­vi­ous month.

The lat­est UK House Price In­dex from Regis­ters of Scot­land also re­veals the vol­ume of sales is also up sub­stan­tially, with an in­crease of 45.4 per cent in March on the pre­vi­ous year tak­ing into ac­count the LBTT in­creases on se­cond homes and buy-to-let prop­er­ties.

The big­gest price in­crease over the year was in East Renfrewshire, where the av­er­age house price has risen 7.0 per cent to £201,282, while the City of Aberdeen recorded the big­gest price de­crease, down 9.2 per cent to £176,394.

New build has also fared well, with an av­er­age price of £200,554 in May – up 12.2 per cent on the pre­vi­ous year.

Get on the lad­der

FIRST time buy­ers look­ing to get the most for their money should fo­cus their search on East Dun­bar­ton­shire, which ac­cord­ing to Bank of Scot­land’s newly pub­lished First Time Buyer Re­view, tops the UK’s most af­ford­able Lo­cal Author­ity Dis­tricts with prop­erty prices av­er­ag­ing £97,089 – equal to 2.6 times l ocal an­nual av­er­age g ross earn­ings.

In fact, five of the UK’s ten most af­ford­able lo­cal author­ity ar­eas are in Scot­land – the oth­ers be­ing East Renfrewshire, West Dun­bar­ton­shire, Stir­ling and North La­nark­shire. The bank’s data also shows that half of the first time buy­ers in Scot­land are be­low the £125,000 stamp duty thresh­old.

The ques­tion here is, how East Renfrewshire records the high­est av­er­age prop­erty price rise on one hand, yet also man­ages to be one of the most af­ford­able ar­eas for first time buy­ers. An­swers on a post­card, please…

King­dom flour­ishes

FIFE has con­tin­ued to pros­per this year, ac­cord­ing to CKD Galbraith’s fig­ures for the se­cond quar­ter of 2016. Ge­orge Lorimer, part­ner at the prop­erty firm’s Cu­par of­fice, said: “We have seen a steady in­crease in the num­ber of prop­er­ties on the mar­ket from April through to June this year – up 35 per cent com­pared to the first quar­ter, while view­ings in the area in­creased by 62 per cent.

“These fig­ures re­flect the wide ap­peal of the Fife mar­ket and de­mand re­mains very strong for ru­ral fam­ily homes, par­tic­u­larly those that in­clude land and out­build­ings.

“And the new Queens­ferry cross­ing will soon be a huge boost to the area north of the Forth, where prices are still very at­trac­tive com­pared with the rest of the UK.”

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.