House prices soar in East Dunbartonshire
East Dunbartonshire is now the most expensive place in Scotland to buy a property.
Prices surged by 12.2 per cent over the past year, with the average home now costing £259,566, a survey by estate agents has revealed.
The area has overtaken East Renfrewshire, where the average price of a property is £256,966 and also ahead of Edinburgh, at £254,552.
According to the Your Move Scotland House Price Index survey, property prices also rose in these two areas, but much lower – by 4.1 per cent and 3.9 per cent, respectively.
The house price boost comes five months after research by BBC Radio 4’s Woman’s Hour put East Dunbartonshire at the top of the list of the best places in Britain for women to live.
Alan Penman, of chartered surveyors Walker Fraser Steele, said: “We’re seeing impressive growth in Glasgow’s suburbs, with some of the most expensive property in the country. East Dunbartonshire saw prices rise by 12.2 per cent over the year, giving it now the most expensive average property price in the nation.”
Overall, the rise in average house prices in Scotland outstripped all other parts of Britain last year, rising 4.5 per cent, the fastest rate since May 2015.
Christine Campbell, managing director of estate agents YourMove in Scotland, said: “The combination of low interest rates, an unemployment rate lower than that of Britain and a number of schemes to assist buyers has contributed to ongoing demand for property.
“The problem remains, however, that there are not enough properties coming to market to sell – nor homes being built – which, in turn, is driving prices up.
“It’s important that, in the months to come, more emphasis should be placed on building homes – particularly those that are more affordable – to ensure that the market remains active and that any potential slowdown is avoided.”