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Raeside Chisholm Solicitors Blog

Blog and latest news from our solicitors based in Glasgow, Scotland. Call us to find out how we can help you.

Record Scottish house prices – again!!

 We have tried to update our clients on trends in the Scottish property market, and for the last two years have been reporting on prices rising and rising – today’s report is no different!

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House prices in Scotland reach a record high

House prices have risen to a record high in Scotland.

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Scottish Buyers Smash Asking Prices

Demand for homes has more than doubled in parts of Scotland over the past year. Fresh data reveals the most sought after locations amid reports that buyers are paying up to 40% over the asking price.

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Buying Saves £1400 a year over Renting

Mortgage data has shown that buyers save around £1400 a year compared to renters. The data from Halifax suggests that buyers save £115 a month on average on housing costs if they can afford to get on the property ladder. The survey compared the typical monthly rent for a three-bedroom property in Britain with average buying costs, which include mortgage payments, household maintenance, repairs, minor alterations, insurance and income “lost” from funding a deposit instead of saving. Average buy to let monthly rent increased by 6% to £874.00 between December 2020 and December 2021 while buying costs rose 2% to £759.00 a month.

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Housing Market sees strongest start to a year since 2005

Figures from Nationwide Building Society show house price growth hit 11.2 percent in January, with this marking the strongest opening month to a year since 2005. The year on year pace of growth was faster than the 10.4% seen in December and the strongest since June. Prices rose by 0.8 percent month on month, marking the sixth consecutive increase as the typical value hit £255,556. The total number of property transactions was the highest since 2007, and around 25% higher than pre-pandemic levels recorded in 2019.

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Latest News

24 June 2022
Estate Agency
 We have tried to update our clients on trends in the Scottish property market, and for the last two years have been reporting on prices rising and rising – today’s report is no different! It has just been announced that Scotland could see prope...
18 May 2022
Estate Agency
House prices have risen to a record high in Scotland. Recent research by Halifax bank has revealed that the typical house in Scotland in April 2022 was priced at £196,471, and if inflation continues at the present rate, prices could re...
05 April 2022
Estate Agency
Demand for homes has more than doubled in parts of Scotland over the past year. Fresh data reveals the most sought after locations amid reports that buyers are paying up to 40% over the asking price. According to an analysis by Right Move, Scotland’s...
29 March 2022
Estate Agency
Mortgage data has shown that buyers save around £1400 a year compared to renters. The data from Halifax suggests that buyers save £115 a month on average on housing costs if they can afford to get on the property ladder. The survey compared the typic...
03 February 2022
Estate Agency
Figures from Nationwide Building Society show house price growth hit 11.2 percent in January, with this marking the strongest opening month to a year since 2005. The year on year pace of growth was faster than the 10.4% seen in December and the stron...
24 January 2022
Estate Agency
The office for National Statistics figures show that UK House prices jumped by 10% in the year 2021. In Scotland alone the average house price jumped by 11.4% and they have now hit a record high of £183,000. Contact our Property Lawyers Glasgow, Scot...

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