Falkirk house prices: 2.1% rise puts district ahead in Scotland

House prices increased by 2.1% in Falkirk in September, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 15.8% annual growth.

The average Falkirk house price in September was £152,890, Land Registry figures show – a 2.1% rise on August.

Over the month, the picture was better than that across Scotland, where prices decreased 0.4%, but Falkirk underperformed compared to the 2.5% rise for the UK.

House prices in Falkirk have shown an increase

Over the last year, the average sale price of property in Falkirk rose by £21,000 – putting the area 11th among Scotland’s 32 local authorities for annual growth.

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The best annual growth in the region was in Inverclyde, where property prices increased on average by 26.1%, to £122,000. At the other end of the scale, properties in the Shetland Islands lost 7.4% of their value, giving an average price of £169,000.

Owners of detached houses saw the biggest improvement - up 2.6%, to £289,585 on average. Over the last year, prices rose by 18.9%.

Semi-detached: up 2.2% monthly; up 16.6% annually; £167,834 average

Terraced: up 2.1% monthly; up 16.5% annually; £125,059 average

Flats: up 1.6% monthly; up 11.9% annually; £86,483 average.

First-time buyers spent an average of £126,000 – £16,000 more than a year ago, and £33,000 more than in September 2016.

By comparison, former owner-occupiers paid £183,000 on average – 45.1% more than first-time buyers.

Buyers paid 15.2% less than the average price in Scotland (£180,000) in September for a property locally.

The most expensive properties in Scotland were in Edinburgh – 2.1 times as much as in Falkirk.

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