House prices in the Borders increase by over 11 per cent
07-28-2014
House prices in the Borders increase by over 11 per cent
The Borders is the ninth most expensive area to buy a home in Scotland, new figures have shown
The average price of homes sold in the Scottish Borders increased by over 11 per cent in the 12 months to May, new figures show.
According to the data, from LSL Property Services/Acadata, the average price paid in the region stood at £175,035 in May, almost eight per cent higher than the national average.
In May last year the average price locally was just one per cent higher than the Scottish average.
The latest figures also reveal that the Borders is the ninth most expensive local authority area to buy a home in Scotland, a table topped by East Renfrewshire with an average price of over £232,000.
Between May 2013 and May this year the average price of homes sold in Scotland rose by just over four per cent, significantly less than locally.
The actual number of house sales in May in Scotland was 15 per cent higher than the same month last year, but sales have been running at an average of 22 per cent up.
Further figures released in the last week by property consultants Knight Frank showed that ‘prime’ property prices in the Borders rose by nearly six per cent in the year to June.
The price of country houses grew in the area by three per cent more than the Scottish average, the company’s research found.