In January of 2018, TwentyCi published an article that looked at average property prices in Scotland. For this article, we're looking back and comparing some of the figures reported on at that time to what's happening in the market currently.
It was found in January that the capital city Edinburgh had the highest asking price of any area in Scotland (£248,274) and average time on market was 109 days. Second and third highest asking price areas were Perth and Aberdeen. The latest figures show that Edinburgh has kept its top spot but Aberdeen has dropped to fourth. Edinburgh now has an average asking price of £261,243, an increase of £12,969 or 5.2%. The average time on market is now 85 days, a significant drop of 22.2%. This shows that Edinburgh properties are increasingly in demand, as well as increasing in price.
From the current data it shows that Aberdeen has dropped its position from third highest average property price area, down to fourth.
Looking at the top four sales bases (properties on the market), the data clearly shows Aberdeen, Edinburgh and Glasgow have the highest amount of properties on the market in Scotland. Aberdeen has 5232 properties on the market, Edinburgh has 4879 properties on the market, and Glasgow has 4696 properties on the market. There is significant difference in the amount of properties for sale on the market between the top three and Kilmarnock which sits in fourth position; there's over 50% less in Kilmarnock than in Aberdeen.
To summarise, the Scottish housing market appears to show improvements since January whilst also showing slight shifts in certain postcode areas.
To read more of our Delving Into Data property insight posts, click here.
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