14 Jan 2015

Press Release: Scotland’s 2014 Property Hotspots

Press Release: Scotland’s 2014 Property Hotspots

 

Property prices in some parts of Scotland have been rising by more than £1,000 a month during 2014, according to new research.

The firm has published the 10 property hotspots where homeowners have made the most money from bricks and mortar during the past 12 months.

Edinburgh – where the average house price has increased by more than £20,000 since last December – tops the list, which has been compiled using official figures from the Registers of Scotland.

That means people in the capital have seen their home value increase by £1,744 in each month of 2014.

The average house in Stirling has enjoyed a £1,648 jump in value each month, adding £19,770 to local prices during the year.

Renfrewshire, Clackmannanshire and Aberdeen make up the rest of the top five, where values have risen by £1,356, £1,302 and £1,199 a month respectively.

Bob Fraser, Senior Partner, said many parts of the country enjoyed a strong year in 2014.

“The Scottish economy has rallied during the past 12 months and as a result, more people have had the confidence to buy and sell property.

“In recent years, Edinburgh and Aberdeen have led the post-recession recovery in the property market, while other parts of the country have struggled to keep up.

“However, as these figures show, many other parts of Scotland are now beginning to flourish.”

Inverclyde, North and East Ayrshire, East Lothian and Angus also enjoyed month-on-month price increases of over £1,000 during the year. The Scottish average was £877.

Mr Fraser is forecasting a busier than usual start to 2015 as buyers look to beat tax increases at the higher end of the market.

From April, Stamp Duty will be replaced by the Scottish Government’s Land and Buildings Transaction Tax (LBTT).

The changes will ease the burden for first time buyers, but will result in a levy of 10% on the balance of properties worth between £250,001 and £1million.

“The changes coming mean that people buying at a certain level will be saving a substantial amount of money if they buy now.

“As a result, what is typically a quiet month for the industry has become a very busy one. To help meet the demand from buyers, we have been offering Free Home Reports to people looking to sell in January.

“If this month so far is anything to go by, I expect 2015 to be just as profitable as 2014 for people with homes in the right areas.”

AREA
JAN
  2014
NOW
INCREASE
PER
  MONTH
Edinburgh
£214,475
£235,402
£20,927
£1,744
Stirling
£177,920
£197,690
£19,770
£1,648
Renfrewshire
£120,798
£137,072
£16,274
£1,356
Clackmannanshire
£124,533
£140,162
£15,629
£1,302
Aberdeen
£206,884
£221,268
£14,384
£1,199
Inverclyde
£116,085
£130,377
£14,292
£1,191
North Ayrshire
£105,680
£119,549
£13,869
£1,156
East Lothian
£209,566
£223,429
£13,863
£1,155
East Ayrshire
£103,248
£115,845
£12,587
£1,050
Angus
£149,936
£162,354
£12,418
£1,035
 
 
 
 
Scotland
£159,670
£170,190
£10,520
£877

*All figures from Registers for Scotland

Media Enquiries

For further information please contact Ryan Crighton, Director of Marketing, on 01224 337 454 or alternatively email rcrighton@acandco.com

Media Coverage

The Herald: Top ten property hotspots revealed

The Press and Journal: Property values surge upwards in north-east

The Evening Express: Aberdeen house prices rise more than £1,000 a month



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