East Dunbartonshire house prices dropped more than Scotland average in December

House prices dropped by 4.6% – more than the average for Scotland – in East Dunbartonshire in December, new figures show.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices dropped by 4.6% – more than the average for Scotland – in East Dunbartonshire in December, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 2.3% over the last year.

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The average East Dunbartonshire house price in December was £259,555, Land Registry figures show – a 4.6% decrease on November.

Over the month, the picture was different to that across Scotland, where prices decreased 2.9%, and East Dunbartonshire was lower than the 0.4% drop for the UK as a whole.

Over the last year, the average sale price of property in East Dunbartonshire rose by £5,900 – putting the area 30th among Scotland’s 32 local authorities with price data for annual growth.

The highest annual growth in the region was in the Orkney Islands, where property prices increased on average by 17.7%, to £222,000. At the other end of the scale, properties in Aberdeen lost 4% of their value, giving an average price of £139,000.

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The average UK house price was £294,000 in December 2022, which was £26,000 higher than 12 months earlier.

It meant prices increased by 9.8% annually in December, slowing from 10.6% annual growth in November, according to the Office for National Statistics.

First steps on the property ladder

First-time buyers in East Dunbartonshire spent an average of £191,100 on their property – £3,800 more than a year ago, and £31,800 more than in December 2017.

By comparison, former owner-occupiers paid £310,100 on average in December – 62.3% more than first-time buyers.

Property types

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Owners of flats saw the biggest fall in property prices East Dunbartonshire in December – they dropped 5% in price, to £134,927 on average. Over the last year, prices dropped by 0.9%.

Among other types of property:

Detached: down 4.1% monthly; up 4.3% annually; £475,658 averageSemi-detached: down 4.7% monthly; up 2.4% annually; £271,209 averageTerraced: down 4.7% monthly; up 3.5% annually; £195,413 average

How do property prices in East Dunbartonshire compare?

Buyers paid 38.6% more than the average price in Scotland (£187,000) in December for a property in East Dunbartonshire. Across Scotland, property prices are high compared to those across the UK, where the average cost £294,000.

The most expensive properties in Scotland were in Edinburgh – £330,000 on average, and 1.3 times as much as more than in East Dunbartonshire. Edinburgh properties cost 2.6 times as much as homes in Inverclyde (£125,000 average), at the other end of the scale.

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The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in December

East Dunbartonshire: £259,555Scotland:£187,224UK: £294,329

Annual growth to December

East Dunbartonshire: +2.3%Scotland: +5.7%UK: +9.8%

Highest and lowest annual growth in Scotland

The Orkney Islands: +17.7%Aberdeen: -4%