Property market boost

South Lanarkshire’s property market has been given a boost as it was revealed that the average house price rose by two per cent in the last year.

The latest available figures, for October 2018, show that the value of the average house has gone up from £125,399 to £127,896.

That is a rise of two per cent in the government statistics released by Registers of Scotland as part of their involvement in the new UK House Price Index.

The property market in neighbouring North Lanarkshire also received a boost over the year, with the average house price there rising by 7.8 per cent from £101,242 to £109,102.

Across Scotland as a whole, the average property was worth £144,377 – up 4.4 per cent from last year’s figure of £145,508.

The latest monthly report shows there were over 1200 sales in Lanarkshire – 635 in South Lanarkshire (up ten per cent from 573 in the same month the previous year), and 571 in North Lanarkshire (up 25 per cent from 454). There were 10,400 sales across Scotland, up nine per cent from 9518 from the same month the previous year.

Registers of Scotland’s business development and information director Kenny Crawford said: “Average prices in Scotland continued their upward trend in October with an increase of 4.4 per cent when compared to October 2017.

“Average prices have been increasing each month since March 2016, when compared with the same month of the previous year.”