First-time buyers contribute to increase in activity in Scotland says Your Move

August 18, 2017

Latest Your Move House Price Index Scotland June 2017 published in August 2017  headlines ‘Scotland house price growth outpaces England & Wales.’

Edinburgh, Glasgow and surrounding areas drive the market in Scotland, average house prices up 0.5% in the month to £175,941 and 4.6% annually, transactions up 8% in June.

First time buyer demand and tight supply support prices.

The latest available figures in Scotland don’t take account of the post-election period, but with transactions estimated to be up 8%, they show the country entered it on a strong footing.

Christine Campbell, Your Move managing director in Scotland, said: “With strong growth in both its biggest cities, Scotland’s market is on a strong footing with first-time buyers contributing to this increase in activity. The increase in transactions is also encouraging, but we need to get more properties onto the market if that’s going to continue.”

Alan Penman, business development manager for Walker Fraser Steele, one of Scotland’s oldest firms of chartered surveyors and part of the LSL group of companies, added: “It’s good to see growth at both the top of the market and in more affordable areas. There seems to be a particular hot spot around Glasgow – both the city itself and its neighbouring local authorities are all growing robustly.”

Scotland monthly House Price Index can be read at lsl.co.uk

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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