Homes for sale across Scotland

Advanced search or use our draw-a-search facility on our interactive map.

Find a Property for sale in Scotland

eg: "Bungalow in Kilmarnock or Irvine"

Find a Property

National figures hide local fluctuations

by Mark Hordern, GSPC on 15/05/2015 12:05:52

House prices across the UK rose by 2.2% in the last three months and are now 8.5% higher than they were a year ago according to the latest The Halifax's House Price Index.

The annual rate of growth reported by the Halifax has fluctuated between eight and nine per cent from some time, with minor exceptions in July 2014 (10.2 per cent) and December 2014 (7.8 per cent).

The Halifax also reports consumer confidence is also at its highest level for almost a year. Its Housing Market Confidence Tracker shows that the number of people believing now is a good time to sell at its highest level since the survey was started in 2011.

Halifax Housing economist, Martin Ellis, attributed the modest but continued growth in house prices to 'economic improvement, rising employment and low mortgage rates'.

However, it's important to note that the Halifax's headline statistics mask regional trends.

The Registers of Scotland recently reported that prices in Scotland were 13.3% higher in the first three months of this year than the same time last year. Many commentators have attributed the sharp rise in prices to the introduction of a Land and Buildings Transaction Tax. Although the first £145,000 of any property's purchase price is exempt from tax, the LBTT now applies a 10 per cent tax rate to homes selling for more than £325,000. As a consequence, local agents reported a surge of activity in the months leading up to the LBTT's introduction on April 1st, as buyers and sellers took advantage of the previous stamp duty regime.

Even within Scotland, there are marked differences in price trends across the country. The most recent price data released by the Glasgow Solicitors Property Centre showed a 4.1 per cent rise in prices across the west of Scotland in Q1 2015, whereas broadly comparable data from Edinburgh Solicitors Property Centre recorded an 18 per cent jump in average selling prices throughout east central Scotland.

The ESPC data may well reflect the introduction of LBTT, but it still demonstrates how national reports like the Halifax House Price Index should only be viewed as a general barometer of market fortunes. That's especially true since UK-wide data has to take into account the overheated London market. National average house prices may provide a useful talking point, as well as a general indication of UK Plc's economic fortunes, but they're unlikely to accurately reflect what's happening in your area. Only local experts can tell you the full story.

Property News

Historic church complete with original features goes on sale by TSPC on 29 June 2017 SPC Scotland quarterly market commentary May 2017 by SPC Scotland on 19 May 2017 Historic Victorian spa hotel in Strathpeffer up for sale by HSPC on 27 April 2017 Ron Hastings offers opinion on Brexit and the Borders property market by Ron Hastings on 14 April 2017 HSPC's latest market statistics by HSPC on 05 April 2017 £10M Boost for Perthshire Property Market by PSPC on 04 April 2017 Rare property for sale on Heriot Row in Edinburgh by ESPC on 30 March 2017 West End Glasgow and Leith in Edinburgh, voted amongst the coolest places to live in Britain by GSPC on 22 March 2017 Tarff Church, the chance to live in a historic and unique venue by DGSPC on 09 March 2017 SPC Scotland quarterly market commentary by SPC Scotland on 22 February 2017 SPC Scotland response to latest Registers of Scotland quarterly report by SPC Scotland on 31 October 2016 What the Leave result could mean for the property market by Orlaith Brogan on 26 June 2016 Registers of Scotland release their latest quarterly report by SPC Scotland on 08 January 2016 2015 - Time to Reflect by ESPC on 12 December 2015 Budgeting for the Future by ESPC on 15 July 2015 A decade of Scottish property prices by Mark Hordern, GSPC on 12 June 2015 Help to Buy Scotland runs out of cash by Mark Hordern, GSPC on 20 May 2015 National figures hide local fluctuations by Mark Hordern, GSPC on 15 May 2015 Rising prices disguise falling sales by Mark Hordern, GSPC on 28 April 2015 Affordability in Scottish cities worsens, or does it? by Mark Hordern, GSPC on 27 March 2015 A tale of two coastlines by Mark Hordern, GSPC on 06 March 2015

Property Law

SPC Scotland's advice for landlords on how to attract tenants to your property by SPC Scotland on 14 May 2016 Mortgage adviser David Lauder who works in the SPC network takes a look at what the past few months have been like across the mortgage market. by SPC Scotland on 16 April 2016 Your most popular questions about title deeds answered by Mark Hordern, GSPC on 04 February 2015

Solicitors Property Centres:EdinburghGlasgowAberdeenTaysideDumfries & GallowayHighlandPerthshireFife & KinrossBorders