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Fastest Scottish house price rise in 6 years

April 2nd 2014

HOUSE prices in Scotland grew at their fastest rate in six years during the first quarter of this year, increasing by 7.6 per cent.

The rise was the strongest pace of growth since the end of 2007, according to the Nationwide house price survey, although just below the UK average of 9.2 per cent.

Aberdeen city was Scotland’s most expensive region for house hunters, and prices grew fastest in the area with a 12 per cent increase on the previous year.

Southern Scotland was the country’s least expensive area.

Aberdeen has seen a 107 per cent rise in property prices over the past decade, Nationwide said, taking the average price paid for a home to £246,532.

Prices in areas surrounding Aberdeen have also more than doubled in the past ten years, while the next biggest growth came in Dundee and Angus, where the cost of buying an average property rose by 67 per cent.

Edinburgh property prices grew by just over a quarter in the ten years from 2003, while in Glasgow they increased by 25 per cent.

Scotland-wide, the average house price was £138,386 in the first three months of this year.

South Lanarkshire was the weakest performing area over the past twelve months, recording a year-on-year increase of just two per cent.

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About Home Reports

Home Reports have become an important part of selling or buying a home in Scotland. Sellers need the Home Report, containing a Single Survey, Energy Report and Property Questionnaire, in place, prior to marketing their property. Buyers benefit from the information provided in the Home Report. Onesurvey work with you and your estate agent every step of the way, guiding you through the process and getting your property to market as quickly as possible.

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