Scotland house prices drop 0.7% in June, but annual growth still positive

Your Move’s Scotland House Price Index for June shows a second consecutive monthly drop, with prices falling 0.7 per cent. Annually, however, prices grew by 4.4 per cent.

This means that the average house in Scotland now costs £182,163, £7,759 more than a year ago.

Despite prices in Glasgow rising 1.1 per cent from May to June, house prices fell in 22 of Scotland’s 32 local authority areas, including Edinburgh, which saw a drop of 1 per cent within the same time frame (while being up 8.3 per cent annually). The biggest loss, however, was in Dumfries and Galloway, where house prices sank by 6.5 per cent. Behind this came Na h-Eileanan Siar, which witnessed a fall of 5.4 per cent.

The largest monthly gains were in Inverclyde, the Shetland Islands, and the Scottish borders, where prices rose 7.2 per cent, 3.9 per cent, and 3.6 per cent, respectively.

The data also shows that transactions in Q1 2018 were 11 per cent lower year-on-year.

Your Move managing director in Scotland Christine Campbell says: “The market in Scotland has noticeably slowed as we’ve gone into the summer yet it still shows some strong annual growth, and it’s encouraging to see almost all areas showing positive performance.”

Walker Fraser Steele business development manager Alan Penman adds: “Despite a slowdown, Edinburgh remains the foundation of the market in Scotland, showing a market with considerable resilience.”



Paragon expands buy-to-let offering in Scotland

Paragon is now offering its portfolio mortgage range to landlords in Scotland. These portfolio products are designed for landlords with four or more mortgaged properties, as well as those operating through limited company or limited liability partnerships. These mortgages can be used to finance single self-contained units, houses in multiple occupations as well as multi-unit […]


Landlords dump Scottish property

Figures released by the National Landlords Association show that 24 per cent of landlords with exposure to Scotland sold property in Q2 2018. Alongside this, 5 per cent of landlords bought property within the same time frame. The NLA blames the Scottish Private Residential Tenancy reform for this imbalance, which commenced on 1 December 2017 […]

Remortgaging dominates as FTB and homemover numbers dip: UK Finance

Remortgage activity dominated the mortgage market in June, according to new figures from UK Finance, as first-time buyer and homemover transactions fell. There were 37,400 new homeowner remortgages completed in June, up 8.4 per cent more than in the same month a year earlier. The £6.8bn of remortgaging in the month was 13.3 per cent […]

Trouble ahead - thumbnail

Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 


News and expert analysis straight to your inbox

Sign up