Falkirk property: House prices rise more than Scottish average
House prices increased by 3% – more than the average for Scotland – in Falkirk in July, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 13.1% annual growth.
The average Falkirk house price in July was £146,233, Land Registry figures show – a 3% increase on June.
Over the month, the picture was better than that across Scotland, where prices increased 2%, and Falkirk outperformed the 3.7% drop for the UK as a whole.
Over the last year, the average sale price of property in Falkirk rose by £17,000 – putting the area 15th among Scotland’s 32 local authorities for annual growth.
The best annual growth in the region was in the Shetland Islands, where property prices increased on average by 41.7%, to £181,000. At the other end of the scale, properties in Stirling gained 4.9% in value, giving an average price of £219,000.
Owners of detached houses saw the biggest improvement in property prices in Falkirk in July – they increased 3.5%, to £275,583 on average. Over the last year, prices rose by 14.7%.
Semi-detached: up 3.4% monthly; up 13.1% annually; £159,276 average
Terraced: up 2.5% monthly; up 13.9% annually; £119,304 average
Flats: up 2.7% monthly; up 11.1% annually; £83,792 average
First-time buyers spent an average of £121,000 on their property – £14,000 more than a year ago, and £26,000 more than in July 2016.
Former owner-occupiers paid £174,000 on average in July – 44.7% more than first-time buyers.
Buyers paid 17.5% less than the Scottish average of£177,000 in July for a property in Falkirk.