13 Jan 2022

Motherwell leads way for house-price growth

Motherwell leads way for house-price growth

Motherwell recorded the highest rate of house-price growth in towns and cities north of the border in 2021. 

Latest data from Bank of Scotland reveals the town enjoyed an average increase in value of 17.3% to £177,118.

In second place in Scotland's top 10 was Hamilton, where prices jumped by 13.7% to £159,176.

The new figures also confirmed the continuing recovery in the property market in the north-east, following the oil and gas downturn.

Aberdeen prices were ahead by 8.4% to £217,678 - earning it a place in the top 10.

See the full list below.

Meanwhile, Motherwell and Hamilton also made it into the UK top 20 for house-price growth, in seventh and 20th place respectively.

However, not all locations north of the border experienced such big increases in 2021.

The average price in Airdrie actually fell by 3.8% to £150,874, and Coatbridge's figure dropped by 2.3% to £145,880.

Bank of Scotland said that prices across Scotland rose by 8.8% over the last year - more than the UK figure of 6.2%.

The typical Scottish home now costs £207,778 - an increase of £16,761 on 2020's figure of £191,017.

Bank of Scotland said that, overall, it had been a positive year for homeowners in Scotland hoping for the value of their property to rise, with more areas seeing higher rates of growth and fewer seeing falls.

In 2020, just two towns and cities saw prices rise above the UK average, while in 2021 there were 15.

Conversely, in 2020 seven locations had prices fall back - compared to just two in 2021.

Graham Blair, mortgages director at Bank of Scotland, said:

"Scottish house prices have enjoyed another bumper year, with growth outperforming the UK average. "The feedback we're getting from customers matches what we see in the data.

"Prolonged working from home has influenced where people want to live and the type of property they want to own.

"So while our major cities continue to be attractive, with commuting now less of a priority, areas that offer more space and better affordability have experienced increasing demand from buyers."

Many towns within easy reach of the key cities experienced some of the biggest rises, with both Paisley and Livingston outperforming their more metropolitan neighbours.

However, the most expensive place to buy in Scotland remains Edinburgh.

The nation's capital now has an average house price of £293,406 - up 7% on last year.

Scotland's 10 towns and cities with the highest house-price growth

LocationAverage House Price 2020Average House Price 2021One-Year Change
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