From Plook to profit: Ayr is Scots house price hotspot

IT once was in the running for the annual award that no-one wants to win – the prize for being Scotland’s most dismal town.

But now it has emerged that the seaside town of Ayr is Scotland’s rising house-prices winner for 2020, recording the biggest increase of the year according to the Bank of Scotland’s latest data.

The average house price in Ayr jumped by 15.5 per cent (£23,839) to £177,984 over the past 12 months, while 60 miles east, Dumfries recorded the second-highest rise, with values shooting up by 13.6% (£18,471) to £154,021 during the same period.

Just seven years ago there was shock when, hit by shop closures and a lack of investment, Ayr was nominated for the unwanted Plook on the Plinth title, which was part of Scottish architecture magazine Urban Realm’s now-defunct Carbuncle awards.

Ayr was up against Leslie in Fife and Broxburn in West Lothian, which were all picked because they “harbour a variety of ills”.

But, by last year, there was recognition that the former market town had had its fortunes turned around and was in the process of massive regeneration.

The transformation and combined effort of locals and South Ayrshire Council led to the town being nominated for an entirely different award – Scotland’s Most Beautiful High Street.

The award, run by Scotland’s Towns Partnership and Keep Scotland Beautiful, celebrated the best of the country’s towns based on horticultural achievement, environmental responsibility, and community participation.

According to the Bank of Scotland study, Inverness was the city with the biggest jump in average prices in 2020 with an increase of 8.1% (£14,687) and an average property price of £195,534.

Already home to many of the priciest addresses in the country, Edinburgh came in at seventh place – with an additional £15,581 (6%) increase to the average price of a home this year. The capital’s average property price of £274,246 is the highest in Scotland.

But 2020 has also seen changes in value in the opposite direction across the country.

West Lothian’s largest town, Livingston, has seen a fall in house prices of 8.1% this year, equivalent to £15,396, with the average house prices in the area dipping from £190,152 to £174,756 in the past 12 months.

And Motherwell in North Lanarkshire has seen a dip of 2.7% (£4,266) on last year.

Graham Blair, Bank of Scotland mortgages director, said: “While it’s great news for sellers in Ayr and Dumfries with the biggest jumps in average house prices, it also looks promising for potential buyers in Livingston, Motherwell and Paisley – where a dip in prices could mean a better deal for house hunters.

“In Scotland’s biggest cities, we’ve seen prices cool slightly up north in Aberdeen in contrast to Inverness. Average house prices in Edinburgh have increased around three times as much as in Glasgow, with homes in the capital adding around £15,000 in value this year compared to almost £4,000 in the west.”