The average Scottish home now costs more than £200,000 for the first time, as property prices rose last month by about £100 per day.
According to the Bank of Scotland, a typical property now cost £201,549, which is £18,142 more than a year ago. Instead of stalling amid economic uncertainty, house prices rose by almost 10% to June as demand increased, up from 8.5% in May.
Graham Blair, the mortgages director at Bank of Scotland, said: “Scotland recorded exceptionally strong house price growth during June, with the cost of a typical property rising by almost £3,000. That’s pushed the average house price above £200,000 for the first time ever…..While such rises are often welcomed by existing home owners, anyone looking to move still faces the challenge of buying into a sellers’ market, while the difficulties facing first-time buyers also become more acute. However, when compared to many other parts of the UK, Scotland continues to provide some of the most affordable locations in which to buy a property.”
Whether you are buying or selling, no matter what your budget or where in Scotland your property is, our conveyancing team will be happy to assist – just give us a call on 0141 248 8810, or drop us an email to legal@raesidechisholm.co.uk.
