Property prices in Scotland up 4% year on year - Property Wire

Property prices in Scotland up 4% year on year – Property Wire

Property prices are continuing to rise in most parts of Scotland. While the year over year averages are positive, the end of 2016 saw several months with negative gains. Aberdeen is an outlier to the trend with decreases reported since the summer of 2015. Detached properties saw the strongest growth rate, and former owner occupiers were buying at a higher year over year rate than first time home buyers. Overseas investors from the Middle East and Asia continue to help the markets, as well.

Key Takeaways:

Property prices in Scotland remain strong with the main sales areas being in Edinburgh, Glasgow, Fife, South Lanarkshire and North Lanarkshire.
The prices are driven by a high demand for but a shortage of properties for sale.
Agents have not only received inquiries from local or European investors but also from areas like the Middle East and Asia.

“Average property prices in Scotland have increased by 4% year on year and were up 2.1% month on month in January 2017, the latest official figures show.”