Raeside Chisholm Solicitors Blog

House prices in Motherwell, North Lanarkshire rose at the highest rate in Scotland in 2021, recording the largest increase in both percentage terms at 17.3% and in cash terms at £26,103.00, rising to £177,118.00.

The Law Society of England have joined the National Economic Crime Centre and Action Fraud to issue flyers to home buyers warning that they should be vigilant against fraud scams when completing on a property purchase. This is an issue that is equally of concern in Scotland.

The average house price in Scotland reached a new record level this summer. At the end of July, the average price stood at £207,877.00. This was up £5,950.00 or 2.9% on June, which is the largest increase in a month for over 6 years.

According to the latest figures from the UK House Price Index, as reported by the Registers of Scotland, Scottish house price growth has continued in July. 

Research from Rightmove has shown that Scotland has now overtaken London as the fasted moving market for homes which cost more than £1,000,000.  Analysis shows that these properties in Scotland typically find a buyer within 61 days which is some 25 days quicker than before the pandemic.