Scots Property Prices at All-time High Following Stock Shortage

Author: Alison Gourley
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A recent report prepared from information obtained from Aberdein Considine’s Property Monitor revealed that the average price for Scottish properties sold in the second quarter of this year (April-June 2018) was £169,450, a 4% increase from the same period last year.

The value of properties soared in all of Scotland’s main cities with the exception of Aberdeen. 27 out of the country’s 32 local authorities reported increases in property values. Edinburgh is the most expensive place to purchase a home with an average price of £260,706, overtaking the East Renfrewshire council area in Glasgow which previously topped the table.

In Lothian, the market value rose from £834m to just over £1billion-a quarter of all sales in Scotland. Glasgow saw a 3.9% rise to £154,520 and Dundee a 7% increase to £140,849 following the opening of the V&A Museum.

It is, however, not all good news despite the record prices. More than 77% of those surveyed said they had no intention of moving house, a rise of 43% from the first quarter of the year. Likewise only 6% are considering moving within the next year which could be signs of Brexit impacting on the market.

For first-class legal advice on property law please contact Alison Gourley on 0141 552 3422 or by email on ajg@mitchells-roberton.co.uk

About Alison Gourley

Alison graduated from Edinburgh University School of Law in 1991. She joined Mitchells Roberton in 1996 and became an Associate thereafter. Alison specialises in both commercial and residential conveyancing, advising individuals, large and small businesses, banks, charities and further education institutions on all property transactions. Having 20 years experience in property law Alison has developed excellent relationships with surveyors, independent financial advisers and banks so is ready to act swiftly and effectively to meet her clients’ needs in an ever changing property market. She enjoys getting to know her clients and is committed to giving them an efficient service and is always friendly and approachable. She is also involved with the marketing aspects of the firm. Alison is a residential conveyancing tutor in the paralegal course offered by Central Law Training through the University of Strathclyde. Alison is married to a photographer and has one child. In her free moments she likes to keep fit. She is a talented amateur artist and loves nature and the great outdoors. Email: ajg@mitchells-roberton.co.uk

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