Scottish Daily Mail

House prices soar 6% af ter No vote

Increase in Scotland outstrips the rest of Britain

- By Rachel Watson

HOUSE prices have soared f ol l owing last year’s referendum.

The average price of a home in Scotland has risen by more than 6 per cent since January, compared to the increase of 2.7 per cent across Britain.

The average cost of a house north of the Border now stands at £183,230.

Last night, industry experts welcomed the ‘boost’ and said it showed people were more willing to spend money after last year’s No vote.

But politician­s have warned that the increase in prices is bad news for first-time buyers, who will find it harder to get onto the property ladder.

The report, published by property website Zoopla, indicates that prices rose across all parts of Britain in the first half of the year.

Experts said Scotland had seen the fastest and greatest increase in prices, which they attribute to a ‘post-referendum bounce’ after t he Union was secured in September.

Prices in Edinburgh registered the largest growth, going up by 8.2 per cent, while Aberdeen experience­d a 6.4 per cent rise.

This is compared to London, where there was only a 2.5 per cent increase during the same period.

The increase of £20,465 takes the average house price in Edinburgh to £269,947, while in Aberdeen the average is £256,643 following an increase of £19,088.

The average house price in Britain is £270,674, up by almost £7,000.

But while the industry celebrates, Scottish Conservati­ve housing spokesman Alex Johnstone said young families and first-time buyers would struggle to buy property.

He claimed the Scottish Government has been ‘dragging its feet’ over providing support measures and called for the Government to help people trying to get onto the property ladder.

Mr Johnstone said: ‘ A rise in house prices is good news for those who already own their own property and demonstrat­es a housing market which, under the UK Conservati­ve Government, is growing in confidence.

‘However, a significan­t increase in the cost of buying a home means many people, especially young families and first-time buyers, will struggle to get on the property ladder.

‘ The Nationalis­ts have scrapped Right to Buy and dragged their feet on other support measures when they should have been doing much more to give people a step up onto the housing ladder.’

Mr Johnstone said an increase in house prices was also a sign that not enough homes are being built for sale or rent, adding: ‘And the blame lies at the feet of the Scottish Government.

‘All the lip service in the world cannot disguise the plain fact that this SNP Government is home ownership averse.’

However, Lawrence Hall of Zoo- pla said Scotland was the ‘ real winner’. He added: ‘The surge in property values can, in part, be explained as a post-referendum bounce as businesses and capital flood back to Scotland after withholdin­g investment during the volatile September referendum period.

‘A post-general election feelgood factor must not be discounted, as more devolution promised has given property prices a bounce as Scots anticipate more jobs and investment coming their way.’

The findings are based on Zoopla’s estimates of the present worth of property prices across Britain.

A Scottish Government spokesman said: ‘We are pleased these figures reflect the core strength of the market in Scotland.

‘ Our residentia­l rates and bands prioritise support for firsttime buyers and mean that no tax will be payable on half of all house purchases in Scotland, with more than 40,000 homebuyers paying less tax than they would under UK stamp duty land tax.’

‘Should be doing much more’

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