21 Mar 2016

What was your house worth in 1996?

What was your house worth in 1996?

 

It was the year Wonderwall helped Oasis conquer the world, science gave us Dolly the Sheep and Channel 4 gave us TFI Friday.

The world can also thank 1996 for the launch of the Spice Girls, the break-up of Take That and the creation of Pokemon.

Slightly less memorable (but probably more important) was the parliamentary act which created Scotland's 32 local councils as we know them today.

These local authority areas are now 20-years-old - so how much have house prices changed in that time?

Aberdeen and Aberdeenshire

Today, the average house in Aberdeen is worth £214,799. In 1996, that same property was worth £67,637, according to Scottish Government statistics.

Prices varied across the city in the same way they do now. For example, a house in Kingswells was worth £101,075, while a home in Seaton would set you back just £32,222.

In Aberdeenshire, the average home fetches £231,704 at present. Twenty years ago, that figure stood at £68,846, again with significant variations within the region.

The cheapest homes were recorded in Fraserburgh, where the average price of a property was just £37,208 - but rose to an average of £103,625 in Deeside and £149,830 in Cults, Milltimber and Bieldside.

Edinburgh

At an average price of £233,255, Edinburgh currently has the highest house prices in Scotland. This is 224% higher than the average price of £71,968 in 1996.

At that time, Barnton enjoyed the highest average price, at £150,290. A property in the New Town cost £109,922 and to live in Morningside you needed £106,261.

At the other end of the scale, a property on Lochend Road or Restalrig road could be purchased for upwards of £34,000.

Glasgow

Scotland's biggest city is enjoying a property renaissance and average prices currently sit at £140,837. However, the average Glasgow property cost just £52,369 in 1996.

Prices were as low as £29,969 in Parkhead West and £32,081 in Govanhill West, rising as high as £83,281 in Kelvindale and £81,520 in Mount Vernon.

Perth and Stirling

At the beginning of 2016, the Registers of Scotland put the average Perth and Kinross property price at £189,716. Twenty years ago, that average was £68,769.

In the north of Perthshire, the average price was recorded at £65,800. The figure was slightly higher in Perthshire South and Kinross-shire - at £70,932 - and rose to £78,118 in places like Pitlochry.

In Stirling, the average house price was £71,543 - today the same property is worth £184,100.

Scotland's national property experts

Aberdein Considine is offers a complete property buying, selling, leasing and mortgage service across Scotland, including the cities of Aberdeen, Edinburgh, Glasgow, Perth and Stirling.

If you would like to speak to one of our property experts, call 0333 0066 333 or click here.

To find out what the average price was in your community, click here.


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