Scottish home costs hit a brand new file excessive in May for the third month in a row, reaching a median of £225,636.
The newest index from Walker Fraser Steele reveals that costs have been up by 2.5% 12 months on 12 months and by 0.3% in comparison with April.
West Dunbartonshire was the native authority with the best annual progress, as costs rose by 12% to £153,786.
East Lothian noticed the most important fall, with costs down by 6% to £324,693.
Walker Fraser Steele regional growth director Scott Jack says:
“The market has remained remarkably resilient in recent times given the challenges it has confronted however this month’s acquire of almost £600 (0.3%), represents the strongest efficiency for 2 years.
“This is a hat trick of file new home costs over the previous three months.
“Our knowledge reveals that Scotland’s common home value is now nicely in extra of £225,000 and comfortably above its earlier peak in September 2023. “Clearly, Scotland is having fun with an earlier and stronger revival than throughout most of England and Wales.
“At a neighborhood authority degree, the market noticed will increase in 15 areas, and, with the onset of a brand new authorities, we anticipate market sentiment will additional enhance.
“The new authorities has already mentioned it’s supportive of the present mortgage assure scheme which has been used to good impact in Scotland.
“Confidence will doubtless be additional buoyed because the Bank of England begins to chop its base price within the coming months.”
