Scotland is famous for its wide open spaces, from the breathtaking scenery of the Highlands to the majesty of its lochs and glens. When it comes to thriving culture, cuisine and history, there’s no shortage of fabulous cities to choose from either, with Edinburgh, Glasgow, St Andrews and many more offering the best of modern living. It will come as no surprise then, that many people looking for a home are choosing to head to Bonny Scotland to join the property ladder.
How do Scottish house prices compare to the rest of the UK?
In November 2022, BBC news reported that house prices fell for the first time in over fifteen months, thanks in part to the government’s October mini-budget. Lloyds have also predicted that house prices will fall by as much as 8% in 2023. However, in certain areas of Scotland, house prices have seen significantly bigger rises, with the average cost of a house in Scotland going from £178,865 in September 2021 to £191,941 in November 2022. That represents an increase of around 7.3%.
The best performing property markets in Scotland
1. Argyll and Bute: Known as one of the best whisky producing areas in Scotland, Argyll and Bute is home to the islands of Islay and Jura. It borders Loch Lomond and the Trossachs in the east, and has beautiful stretches of coastline to the west, making it a great place for those seeking various outdoor pursuits. The current average price of a house is £206, 735. This is an increase of 25% in the previous year, when the average house prices was £165, 416.
2. West Lothian: West Lothian is perfectly situated between the two biggest cities in Scotland, Edinburgh and Glasgow, as well as providing easy access to many smaller towns. For heritage and history, culture, and job opportunities, West Lothian is a perfect choice, but it also offers very reasonable house prices. The average cost of a house in West Lothian at the moment is £219, 000, which is an increase of 15.7% compared to the £189, 322 price of a house last year.
3. Dumfries and Galloway: Dumfries and Galloway is full of historic abbeys and castles, as well as scenic countryside and bustling town centres. Although it has seen a smaller level of growth than other markets in Scotland, Dumfries and Galloway is still a strongly performing property market, with average house prices increasing to £165, 011, a rise of 12.9%.
However, not all markets in Scotland have had such healthy increases. The city of Aberdeen has been identified as the current worst performing market in Scotland, with house prices falling by 2.4% over the past year, to an average cost of £145, 153. Growth in Scotland’s capital, Edinburgh, Aberdeenshire, and Clackmannanshire has also been slow.
If you’re thinking of moving to Scotland, you’ll want to choose a firm of conveyancing solicitors that can provide a quick and efficient service. Online conveyancing solicitors, such as Sam Conveyancing, can offer a cheaper service than choosing a local conveyancer as you don’t have to arrange in person visits to verify ID documents since this can be done online.
So, whether you’re looking for your first house, or a rental property, Scotland has a lot to offer potential home buyers.