Scottish House Prices rise twice as fast as in England and Wales

According to ‘PropertyWire’ this week.

House prices in Scotland have increased by 11.2% in the last 12 months, twice as fast as the 5.6% seen in England and Wales.

 

In March alone average property prices in Scotland increased by 5.4% or £9,200 ahead of the new Land and Buildings Transaction Tax (LBTT) being introduced in April, taking the average price of a home to £178,930.

At the same time completes sales increased 29%, mainly at the top end of the market where the new tax is higher. Indeed, some 36 homes worth 31 million or more were sold, the highest number ever in a single month.

Edinburgh and the surrounding area saw an especially strong surged, with East Lothian prices up 11.8% in one month.

For the full Report go to: http://www.propertywire.com/news/europe/scotland-house-price-index-2015052010529.html

 

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