- Argyll and Bute sees highest price movement in the month
- Purchases of homes in excess of £750k decline from October levels
- Forecasts for 2017 house prices are relatively subdued
In the latest Your Move/Acadata Scottish House Price Index it is reported that, after a big rise in October, price growth in Scotland slowed in November, creeping up just 0.1%, to bring the average Scottish house price to £171,876. Sales of high value homes, which surged in October, also returned to more normal levels in November with transactions on just 17 being completed – compared to 52 in October.
Despite the challenges, high value areas have seen some of the biggest price increases over the last year. East Dunbartonshire saw the greatest increase in prices, up 12.3% in the last 12 months to make it the third most expensive local authority, with an average price of £239,789. East Renfrewshire, which has overtaken Edinburgh to become the most expensive area, has increased 10.5%, with prices at £255,523. Only Clackmannanshire can also boast double digit growth over the year, with prices increasing 11.3%.
On a monthly basis, Argyll and Bute, up 3.9%, saw the biggest increase, again reflecting the impact of high value properties, with two houses sold for approximately £1 million each which has pushed up the figure. The biggest falls in prices were seen in Inverclyde and North Ayrshire, down 4.5% and 5.3% respectively in November. The cheapest areas – other than Na h-Eileanan Siar – have also seen some of the poorest annual performance. Overall, though, 24 of Scotland’s 32 areas have seen price rises over the last year.