Scotland house prices hit four-month high

Average house prices in Scotland broke through the £170,000 mark for the first time since May.

The Your Move House Price Index shows prices north of the border rose 0.6% in September to £170,762.

This is just above £170,410 reached in May 2016.

On an annual basis, property prices have grown by 2.5% since last September’s figure of £166,622.

Dundee saw greatest monthly price growth by 4.5% to £139,405, while Edinburgh remains the most expensive city to buy property at £250,477

The biggest fall was in the Scottish Borders where prices fell 4.7% annually to £168,119.

Transactions data from the Office for National Statistics shows that 8,620 housing registrations were completed in June. This is 20.9% higher than the previous month, demonstrating the start of a strong summer for housing transactions in Scotland, Your Move said.

Christine Campbell, Your Move managing director in Scotland, said: “The Scottish housing market continues to show its resilience, despite facing a number of challenges in recent months.

“Tax changes earlier this year prompted many buyers to bring their house purchases forward, while the uncertainly surrounding Brexit could have shocked the market, but the overall picture remains very positive.”

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