House prices in Scotland race ahead of rest of the UK

Scottish house price rises outpaced their English and Welsh counterparts in June, figures suggest.

Data from the latest Your Move House Price Index show annual prices north of the border rose 4.6% on an annual basis in June to £175,941, compared with the 3.3% growth recorded in England and Wales.

The growth rate is also stronger than the 2.9% recorded in Scotland during May.

Prices were also up on a monthly basis by 0.5%, a fifth successive increase compared with three months of falling prices in England and Wales.

Much of this growth continues to come from Edinburgh and Glasgow, which grew 4.6% and 10.6% respectively over the 12 months to June.

Average prices in Edinburgh were £256,737 and £154,666 in Glasgow at the end of June.

Transactions in Scotland were also up 8% during the month.

Christine Campbell, Your Move managing director in Scotland, said: “With strong growth in both its biggest cities, Scotland’s market is on a strong footing with first-time buyers contributing to this increase in activity.

“The increase in transactions is also encouraging, but we need to get more properties on to the market if that’s going to continue.”

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