3.5% rise in Falkirk house prices continues district's long-term trend

House prices increased by 3.5% in Falkirk in November – that’s more than the average for Scotland.

By Allan Crow
Friday, 22nd January 2021, 4:30 pm

The boost contributes to the longer-term trend, which has seen property prices in the area achieve an impressive 9.1% annual growth.

The average Falkirk house price in November was £140,488, Land Registry figures show – a 3.5% increase on October.

Over the month, the picture was better than that across Scotland, where prices increased 0.9%, and Falkirk outperformed the 1.2% rise for the UK as a whole.

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Falkirk's housing market is looking good

Over the last year, the average sale price of property in Falkirk rose by £12,000 – putting the area eighth among Scotland’s 32 local authorities for annual growth.

Owners of detached houses saw the biggest improvement as prices went up 4%, to £260,582 on average. Over the last year, prices rose by 10.9%.

The latest data also gave a snapshot of how the market is performing across various types of property. They include:

Semi-detached: up 3.2% monthly; up 9.6% annually; £153,429 average

Terraced: up 3.4% monthly; up 10% annually; £114,856 average

Flats: up 3.2% monthly; up 6% annually; £81,212 average

First steps on the property ladder

First-time buyers in Falkirk spent an average of £116,300 on their property – £9,200 more than a year ago, and £24,500 more than in October 2015.

By comparison, former owner-occupiers paid £167,000 on average in November – 43.7% more than first-time buyers.

Buyers paid 15.2% less than the average price in Scotland (£166,000) in November for a property in Falkirk.

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