Houses prices in Falkirk on the up according to latest figures

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 13.8 per cent annual growth.

The average Falkirk house price in February was £155,723, Land Registry figures show – a 2.5 per cent increase on January.

Over the month, the picture was better than that across Scotland, where prices decreased 1.7 per cent, and Falkirk outperformed the 0.5 per cent rise for the UK as a whole.

Sign up to our daily The Falkirk Herald Today newsletter

The i newsletter cut through the noise

House prices increased in Falkirk

Over the last year, the average sale price of property in Falkirk rose by £19,000 – putting the area eighth among Scotland’s 32 local authorities with price data for annual growth.

The best annual growth in the region was in Na h-Eileanan Siar, where property prices increased on average by 22.7 per cent, to £156,000.

At the other end of the scale, properties in the Shetland Islands lost 1.6 per cent of their value, giving an average price of £173,000.

Owners of detached houses saw the biggest improvement in property prices in Falkirk in February – they increased 3.2 per cent, to £300,690 on average.

Over the last year, prices rose by 17.7 per cet.

First-time buyers in Falkirk spent an average of £128,000 on their property – £15,000 more than a year ago, and £36,000 more than in February 2017.

By comparison, former owner-occupiers paid £187,000 on average in February – 46 per cent more than first-time buyers.

Buyers paid 13.9 per cent less than the average price in Scotland (£181,000) in February for a property in Falkirk.

Source link

Leave a Reply

Your email address will not be published.