New report reveals drop in house prices

File photo dated 14/10/14 of Sold and For Sale signs. House prices in Britain have increased by ??11 per day on average since the start of the year, analysis has found.
File photo dated 14/10/14 of Sold and For Sale signs. House prices in Britain have increased by ??11 per day on average since the start of the year, analysis has found.

House prices dropped slightly in East Dunbartonshire in June, new figures have 
revealed.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 2.5 per cent annual growth .

The average East Dunbartonshire house price in June was £210,842, Land Registry figures show – a 0.9 per cent decrease on May.

Over the month, the picture was worse than that across Scotland, where prices increased 0.7 per cent, and East Dunbartonshire underperformed compared to the 0.7 per cent rise for the UK as a whole.

During the past year, the average sale price of property in East Dunbartonshire rose by £5,100 – putting the area 14th among Scotland’s 32 local authorities for annual growth.

The best annual growth in the region was in Na h-Eileanan Siar, where properties increased on average by 12.3 per cent, to £116,000.

At the other end of the scale, properties in the Shetland Islands dropped 23.4 per cent in value, giving an average price of £143,000.

Owners of detached houses fared worst in East Dunbartonshire in June – they dropped 1.8 per cent in price, to £360,095 on average . Over the last year, prices rose by 2.8 per cent.

Among other types of property: Semi-detached: down 0.7 per cent monthly; up 3.3 per cent annually; £219,091 average

Terraced: down 0.5 per cent monthly; up 3.2 per cent annually; £158,495 average. Flats: down 0.3 per cent monthly; up 0.6 per cent annually; £120,248 average.

First-time buyers in East Dunbartonshire spent an average of £ 158,500 on their property – £3,400 more than a year ago, and £26,300 more than in June 2014.

By comparison, former owner-occupiers paid £ 248,600 on average in June – 56.9 per cent more than first-time buyers.

Buyers paid 38.8 per cent more than the average price in Scotland (£ 152,000) in June for a property in East Dunbartonshire.

Across Scotland, property prices are lower than the UK as a whole, where the 
average cost is £230,000.