Scotland property market continues to develop
Scotland’s housing market continued its success story in January. The increase in annual real estate prices once again passed from real estate agents in England and Wales.
House prices in the northern part of the border increased by 3.2 percent compared to January and reached an average of 184.324 (US $ 243.268). In the same period, prices in England and Wales fell by 0.9 percent.
According to the report, the annual price increase in Scotland performed better than the UK and Wales since December 2017. The report said it was due to Edinburgh, where the strong show continued to perform predominantly with “extraordinary power”.
Prices in the capital rose by 10.4 percent year on year in January – twice as much as in other UK cities – to 289,327. For the seventh time in the last 12 months, Edinburgh has reported a double-digit annual house price increase.
“Edinburgh’s strength is remarkable in its own right, but compared to the rest of the U.K. and the other major cities, it’s a phenomenon,” Alan Penman, business development manager for chartered surveyors Walker Fraser Steele, said in the report. “We should be looking carefully now at how we can ensure adequate supply for a market that is seeing such strong demand.”
The report said that Edinburgh only defeated by Clackmannanshire, who had a 16 percent price increase in the center of Scotland, but that only counted on 40 sales.
The prices were the highest in the Scottish Borders region, where prices fell 15 percent year-on-year, just north of the border.
Source: Masion Global
Melike Vodina / realesatecoulisse.com