Falkirk district house prices on the rise, according to latest figures

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 10.4 per cent over the last year.

The average Falkirk house price in November was £168,016, Land Registry figures show – a 1.5 per cent increase on October.

Over the month, the picture was different to that across Scotland, where prices decreased 1.2 per cent, and Falkirk was above the 0.3 per cent drop for the UK as a whole.

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

The highest annual growth in the region was in Na h-Eileanan Siar, where property prices increased on average by 26.9 per cent, to £164,000. At the other end of the scale, properties in Aberdeen lost 4.7 per cent of their value, giving an average price of £140,000.

The average UK house price edged down to £295,000 in November 2022, from the previous month's record high of £296,000.

Property prices increased by 10.3 per cent in the year to November, slowing from 12.4 per cent in October.

Nathan Emerson, CEO of Propertymark, which represents estate agents, said: "In November, our agents reported a market that was on the cusp of seeing purchasing power handed back to buyers which was a trend we hadn’t seen in months."

First-time buyers in Falkirk spent an average of £138,000 on their property – £12,000 more than a year ago, and £40,000 more than in November 2017.

By comparison, former owner-occupiers paid £201,000 on average in November – 46.2 per cent more than first-time buyers.

Owners of detached houses saw the biggest rise in property prices in Falkirk in November – they increased two per cent, to £323,020 on average.

Buyers paid 12.3 per cent less than the average price in Scotland (£191,000) in November for a property in Falkirk. Across Scotland, property prices are lower than those across the UK, where the average cost £295,000.

The most expensive properties in Scotland were in Edinburgh – £334,000 on average, and twice as much as more than in Falkirk.