Annual house price growth has continued to slow in Scotland, while values are declining on a monthly basis.
Your Move’s latest House Price Index shows that average prices north of the border declined by 0.7% on a monthly basis during June, the second month of falls.
Annual growth slowed for the third consecutive month, down from 6.7% in March to 5.7% in April and now 4.4% in June.
This put average prices at £182,163 for June, while the annual growth rate is back down to the same level seen in December 2017.
The agent also revealed that transactions in the first quarter of 2018 in Scotland were down 11% annually.
The slowdown was blamed on Edinburgh, where the Scottish capital has the highest average prices but has seen prices fall over the past two months, down 1% in June.
Scottish price growth remains ahead of England and Wales, where average values are up just 1.7% annually.
Christine Campbell, managing director of Your Move in Scotland, said: “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.”
Comments (1)
Noting the market comment is from Your Move’s perspective/stats, therefore it doesn’t represent all the Estate Agents working within the property market in Scotland, this is merely the Your Move View.
If I had time I could provide a statement about the Scottish Property Market from my perspective however I’m too busy….. I’ll tell you more in December, when Santa is circling my office looking for my letterbox.
That 1st and last paragraph as written my Marc or stated by Christine…… “price growth slowing, values declining….” then “strong annual growth and all areas showing positive performance….” ……what is that? “It’s raining? …..It’s sunny!?”.
That’s the problem…. Journalistic interpretation/headlines, stats, facts?, waffle, interpretation, press release, self promotion…..? Anyway, as I said, I’m busy selling houses today and shoudn’t have opened the PIE Inn door!
Thanks Christine, what about the Scottish Weather according to Your Move …..”it’s raining? it’s sunny?!” …..that’ll be why we always carry an umbrella then.