South Lanarkshire house prices increased slightly in March

House prices increased slightly, by 0.2%, in South Lanarkshire in March, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 3.2% over the last year.

The average South Lanarkshire house price in March was £159,904, Land Registry figures show – a 0.2% increase on February.

Over the month, the picture was different to that across Scotland, where prices increased 0.7%, and South Lanarkshire was above the 1.2% drop for the UK as a whole.

Over the last year, the average sale price of property in South Lanarkshire rose by £5,000 – putting the area 16th among Scotland’s 32 local authorities with price data for annual growth.

The highest annual growth in the region was in the Orkney Islands, where property prices increased on average by 12.4%, to £209,000. At the other end of the scale, properties in Aberdeen lost 6.9% of their value, giving an average price of £132,000.

First steps on the property ladder

First-time buyers in South Lanarkshire spent an average of £123,700 on their property – £3,200 more than a year ago, and £25,500 more than in March 2018.

By comparison, former owner-occupiers paid £196,900 on average in March – 59.2% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in South Lanarkshire in March – they increased 0.9%, to £321,474 on average. Over the last year, prices rose by 5.3%.

Among other types of property:

How do property prices in South Lanarkshire compare?

Buyers paid 13.5% less than the average price in Scotland (£185,000) in March for a property in South Lanarkshire. Across Scotland, property prices are lower than those across the UK, where the average cost £285,000.

The most expensive properties in Scotland were in Edinburgh – £324,000 on average, and twice as much as more than in South Lanarkshire. Edinburgh properties cost 2.9 times as much as homes in Inverclyde (£110,000 average), at the other end of the scale.

The highest property prices across the UK were in E09000020.

Factfile

Average property price in March

• South Lanarkshire: £159,904
• Scotland:£184,877
• UK: £285,009

Annual growth to March

• South Lanarkshire: +3.2%
• Scotland: +3%
• UK: +4.1%

Highest and lowest annual growth in Scotland

• The Orkney Islands: +12.4%
• Aberdeen: -6.9%