House prices in Scotland drop 0.2% in May; up 5.8% annually

Research from Your Move shows that the average house price in Scotland grew by 5.8 per cent in the 12 months leading to May.

From April to May, however, prices fell 0.2 per cent – the first monthly drop since July 2017 – giving an average house price of £186,626.

This national change can be attributed to slowdown in Edinburgh, where prices dropped by 3.8 per cent within the same time frame – the most significant price drop in the country. Annually, houses in the royal city are up 10.6 per cent, though.

Of this, Walker Fraser Steele business development manager Alan Penman comments: “Whilst house price growth in Edinburgh has slowed, it is clear that, with a 10.6 per cent increase over the year, it has great influence on the overall figures.”

The highest monthly growth on the mainland were Renfrewshire (up 4.6 per cent) and Dundee City (up 5.5 per cent).

Your Move managing director Christine Campbell says: “After a very strong start to the year the market seems to be pausing for breath yet with continued price increases it appears there is still strength in the market.”

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