East Dunbartonshire house prices dropped more than Scotland average in November

House prices dropped by 1.3% – more than the average for Scotland – in East Dunbartonshire in November, 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.

House prices dropped by 1.3% – more than the average for Scotland – in East Dunbartonshire in November, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 8.1% over the last year.

The average East Dunbartonshire house price in November was £271,621, Land Registry figures show – a 1.3% decrease on October.

Over the month, the picture was similar to that across Scotland, where prices decreased 1.2%, and East Dunbartonshire was lower than the 0.3% drop for the UK as a whole.

Over the last year, the average sale price of property in East Dunbartonshire rose by £20,000 – putting the area 13th among Scotland’s 32 local authorities with price data for annual growth.

The highest annual growth in the region was in Na h-Eileanan Siar, where property prices increased on average by 26.9%, to £164,000. At the other end of the scale, properties in Aberdeen lost 4.7% of their value, giving an average price of £140,000.

The average UK house price edged down to £295,000 in November 2022, from the previous month's record high of £296,000.

Property prices increased by 10.3% in the year to November, slowing from 12.4% in October.

Nathan Emerson, CEO of Propertymark, which represents estate agents, said: "In November, our agents reported a market that was on the cusp of seeing purchasing power handed back to buyers which was a trend we hadn’t seen in months."

And Roger Evans, director of home finance distribution at Gatehouse Bank, said: “The property market is slowly becoming more favourable for buyers in some areas as rates stabilise a little following the turbulence of 2022.”

First steps on the property ladder

First-time buyers in East Dunbartonshire spent an average of £200,000 on their property – £15,000 more than a year ago, and £46,000 more than in November 2017.

By comparison, former owner-occupiers paid £324,000 on average in November – 62.1% more than first-time buyers.

Property types

Owners of flats saw the biggest fall in property prices East Dunbartonshire in November – they dropped 2.1% in price, to £142,057 on average. But over the last year, prices rose by 5.1%.

Among other types of property:

Detached: down 0.7% monthly; up 9.3% annually; £493,476 averageSemi-detached: down 1.3% monthly; up 8.7% annually; £284,499 averageTerraced: down 1.4% monthly; up 9.5% annually; £204,979 average

How do property prices in East Dunbartonshire compare?

Buyers paid 41.8% more than the average price in Scotland (£191,000) in November for a property in East Dunbartonshire. Across Scotland, property prices are high compared to those across the UK, where the average cost £295,000.

The most expensive properties in Scotland were in Edinburgh – £334,000 on average, and 1.2 times as much as more than in East Dunbartonshire. Edinburgh properties cost 2.6 times as much as homes in Inverclyde (£127,000 average), at the other end of the scale.

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

Factfile

Average property price in November

East Dunbartonshire: £271,621Scotland:£191,492UK: £294,910

Annual growth to November

East Dunbartonshire: +8.1%Scotland: +5.5%UK: +10.3%

Highest and lowest annual growth in Scotland

Na h-Eileanan Siar: +26.9%Aberdeen: -4.7%