House Price Index Reveals Annual Price Rise

According to March’s edition of the UK House Price Index UK, house prices rose by an average of 4.1% on an annual basis.

Residential sales in Scotland rose by 2.0% to 6239 compared to January in the previous year , however this was 25.4% lower than sales during December 2016. Again in Scotland the average price of a property in March 2017 was £137,139 which is an increase of 0.7% from March 2016 but a decrease of 1% compared to sales in February 2017.

There were 746 property sales in Edinburgh City making it the top local authority in terms of volume of sales. The other regions in the top five were, Glasgow City (700 sales), South Lanarkshire (396 sales), Fife (391 sales) and North Lanarkshire (305 sales)

The biggest fall in house prices was once again seen in Aberdeen City with a 6.3% drop during March of this year compared to in March 2016, taking the average price to £163,050. East Dunbartonshire showed the biggest annual price increase where the average price increased by 10.7% to £196,332. Across Scotland, all property types except flats showed an increase in average price in March 2017 when compared to the same month in the previous year. Semi-detached properties showed the biggest increase rising by 2.3% to £144,261, while flats decreased by 0.1% to £98,012.

For expert legal advice on buying or selling property in Scotland then please contact me Alison Gourley by email on ajg@mitchells-roberton.co.uk or by phoning 0141 552 3422.

This entry was posted in Legal by Alison Gourley. Bookmark the permalink.

About Alison Gourley

Alison graduated from Edinburgh University School of Law in 1991. She joined Mitchells Roberton in 1996 and became an Associate thereafter. Alison specialises in both commercial and residential conveyancing, advising individuals, large and small businesses, banks, charities and further education institutions on all property transactions. Having 20 years experience in property law Alison has developed excellent relationships with surveyors, independent financial advisers and banks so is ready to act swiftly and effectively to meet her clients’ needs in an ever changing property market. She enjoys getting to know her clients and is committed to giving them an efficient service and is always friendly and approachable. She is also involved with the marketing aspects of the firm and is the solicitor in the office who trains the conveyancing paralegals. Alison is married to a photographer and has one child. In her free moments she likes to keep fit. She is a talented amateur artist and loves nature and the great outdoors.

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