Houses prices in Falkirk on the up according to latest figures

House prices increased by 2.5 per cent in Falkirk in February, new figures show.
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The boost contributes to the longer-term trend, which has seen property prices in the area achieve 13.8 per cent annual growth.

The average Falkirk house price in February was £155,723, Land Registry figures show – a 2.5 per cent increase on January.

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Over the month, the picture was better than that across Scotland, where prices decreased 1.7 per cent, and Falkirk outperformed the 0.5 per cent rise for the UK as a whole.

House prices increased in FalkirkHouse prices increased in Falkirk
House prices increased in Falkirk

Over the last year, the average sale price of property in Falkirk rose by £19,000 – putting the area eighth among Scotland’s 32 local authorities with price data for annual growth.

The best annual growth in the region was in Na h-Eileanan Siar, where property prices increased on average by 22.7 per cent, to £156,000.

At the other end of the scale, properties in the Shetland Islands lost 1.6 per cent of their value, giving an average price of £173,000.

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Owners of detached houses saw the biggest improvement in property prices in Falkirk in February – they increased 3.2 per cent, to £300,690 on average.

Over the last year, prices rose by 17.7 per cet.

First-time buyers in Falkirk spent an average of £128,000 on their property – £15,000 more than a year ago, and £36,000 more than in February 2017.

By comparison, former owner-occupiers paid £187,000 on average in February – 46 per cent more than first-time buyers.

Buyers paid 13.9 per cent less than the average price in Scotland (£181,000) in February for a property in Falkirk.

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