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.

You May Also Enjoy

Estate Agent Talk

Northern Ireland to expect over 25,000 new home movers

Belfast-based estate agency John Minnis has revealed that Northern Ireland is to welcome an estimated 25,000- 30,000 new arrivals from the UK and Europe over the next five years, as migration to the region reaches its highest levels in more than a decade. Recent figures show that 11,700 people relocated from other parts of the…
Read More →
Breaking News

Red tape and rising costs stifling new-build availability across the capital

The latest analysis from London estate agent, Benham and Reeves, has revealed how protracted building timelines are preventing the capital’s housebuilders from delivering the level of new-build housing stock required to meet demand, with new homes currently accounting for just 7.5% of all properties listed for sale across London. Benham and Reeves analysed the latest…
Read More →
Estate Agent Talk

UK’s new wave of ‘second cities’ offers strongest yield growth for property investors

The latest research from West One Loans has found that whilst investors may continue to favour the nation’s key cities such as London, Birmingham, and Manchester, a new wave of ‘second cities’ is delivering the strongest growth in rental yields. These emerging markets are offering investors the chance to achieve attractive returns, driven by rising…
Read More →
Estate Agent Talk

Decline in change of use further constricting housing supply

Jonathan Samuels, CEO of Octane Capital, believes that a decline in conversion projects could ultimately prevent the Government from hitting its ambitious housing delivery targets, as the firm’s latest analysis has revealed that the number of homes created through change of use has fallen sharply in the last five years. Octane Capital analysed official Government…
Read More →
Rightmove logo
Breaking News

Annual price fall driven by south, which could be harder hit by rumoured property taxes

The average price of property coming to the market for sale rises by 0.4% (+£1,517) this month to £370,257. However, average new seller asking prices are now 0.1% below this time last year following several months of muted price growth The dip in annual prices is driven by London and the south, as the south…
Read More →
Breaking News

Rental market cools as Zoopla records slowest annual rent increase in four years

Average rents are 2.4 per cent higher than a year ago, the lowest annual rate in four years and less than half of that recorded 12 months ago Average rents have increased by almost £80 per week over the last five years, adding up to an extra £4,100 a year for renters, resulting in affordability…
Read More →