South Lanarkshire house prices increased in June

House prices increased by 1.7% in South Lanarkshire in June, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 0.4% over the last year.

The average South Lanarkshire house price in June was £164,944, Land Registry figures show – a 1.7% increase on May.

Over the month, the picture was different to that across Scotland, where prices decreased 0.4%, and South Lanarkshire was above the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in South Lanarkshire rose by £610 – putting the area 18th among Scotland’s 32 local authorities with price data for annual growth.

The highest annual growth in the region was in East Lothian, where property prices increased on average by 16%, to £339,000. At the other end of the scale, properties in the Orkney Islands lost 15.5% of their value, giving an average price of £193,000.

First steps on the property ladder

First-time buyers in South Lanarkshire spent an average of £128,120 on their property – £170 more than a year ago, and £28,330 more than in June 2018.

By comparison, former owner-occupiers paid £202,360 on average in June – 57.9% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in South Lanarkshire in June – they increased 2%, to £133,436 on average. Over the last year, prices dropped by 0.2%.

Among other types of property:

• Detached: up 1.4% monthly; up 1.2% annually; £327,112 average
• Semi-detached: up 1.6% monthly; up 1.2% annually; £187,954 average
• Flats: up 1.6% monthly; down 0.4% annually; £93,140 average

How do property prices in South Lanarkshire compare?

Buyers paid 12.9% less than the average price in Scotland (£189,000) in June for a property in South Lanarkshire. Across Scotland, property prices are low compared to those across the UK, where the average cost is £288,000.

The most expensive properties in Scotland were in East Lothian – £339,000 on average, and 2.1 times the price as in South Lanarkshire. East Lothian properties cost 2.7 times the price as homes in East Ayrshire (£123,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, with an average price of £1.3 million.

Factfile

Average property price in June

• South Lanarkshire: £164,944
• Scotland:£189,424
• UK: £287,546

Annual growth to June

• South Lanarkshire: +0.4%
• Scotland: 0%
• UK: +1.7%

Highest and lowest annual growth in Scotland

• East Lothian: +16%
• The Orkney Islands: -15.5%