Scottish house price growth at 18-month low: Your Move

House prices in Scotland grew at 3.2 per cent in the year to January 2019, the slowest rate of growth seen since October 2017, which also saw a 3.2 per cent rise.

The data, provided by Your Move, also shows that monthly growth was flat, leaving the average house price in Scotland as of January 2019 at £184,324.

The figures also highlight that the average house price rose in the year to January 2019 in 26 of 32 authorities.

Clackmannanshire recorded the largest rise at 16 per cent, giving an average house price at £153,728. This was followed by the City of Edinburgh at 10.4 per cent, with the average house priced at £289,327.

Your Move reports prices in Scotland’s capital city as rising twice as fast as those in any other UK city within this time frame.

The largest decline was in the Scottish Borders, where prices fell by 15 per cent in the year to January 2019, leaving the average house price at £165,467.

This was followed by the Shetland Islands at 9.5 per cent, resulting in the average house being priced at £154,379.

Furthermore, transactions were up 4 per cent in Q4 2018, according to Your Move.

Your Move adds that a survey conducted by the Post Office, developed with the Centre for Economics and Business Research, shows that properties in Edinburgh were selling on average within 39 days, compared to the average time of 102 days seen across the rest of the UK.

Your Move managing director Steve Hardaker comments: “The market in Scotland continues to grow robustly with properties across all price brackets making it an incredibly attractive market.”

Walker Fraser Steele business development manager Alan Penman adds: “Edinburgh’s strength is remarkable in its own right, but compared to the rest of the UK and the other major cities it is a phenomenon.

“We should be looking carefully now at how we can ensure adequate supply for a market that is seeing such strong demand.”

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