The figures provided by the Office for National Statistics show that the average UK house price climbed by 4.7% in the year to the end of September, hitting a record high. It is believed that pent up demand and the LBTT relief (Stamp Duty in England) are likely to be among factors that have driven up the increase in typical values.
In Scotland, the average price for homes has climbed 4.3% to £162,000.
Although it was initially feared that the market would stall with the recent increase in restrictions in the various regions, it is now felt that news of a vaccine, which few people had expected so early, could transform what will happen to the property market during 2021.
As ever, our property team are happy to advise on all aspects of buying and selling. Contact us by calling 0141 248 3456 or filling out our online enquiry form.