East Renfrewshire house prices dropped slightly in June

House prices dropped slightly, by 0.1%, in East Renfrewshire in June, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 1.7% over the last year.

The average East Renfrewshire house price in June was £294,474, Land Registry figures show – a 0.1% decrease on May.

Over the month, the picture was similar to that across Scotland, where prices decreased 0.4%, but East Renfrewshire was lower than the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in East Renfrewshire rose by £5,100 – putting the area 12th among Scotland’s 32 local authorities with price data for annual growth.

The highest annual growth in the region was in East Lothian, where property prices increased on average by 16%, to £339,000. At the other end of the scale, properties in the Orkney Islands lost 15.5% of their value, giving an average price of £193,000.

First steps on the property ladder

First-time buyers in East Renfrewshire spent an average of £214,900 on their property – £2,700 more than a year ago, and £47,900 more than in June 2018.

By comparison, former owner-occupiers paid £344,200 on average in June – 60.2% more than first-time buyers.

Property types

Owners of detached houses saw the biggest fall in property prices in East Renfrewshire in June – they dropped 0.2% in price, to £536,872 on average. But over the last year, prices rose by 3.2%.

Among other types of property:

How do property prices in East Renfrewshire compare?

Buyers paid 55.5% more than the average price in Scotland (£189,000) in June for a property in East Renfrewshire. Across Scotland, property prices are low compared to those across the UK, where the average cost is £288,000.

The most expensive properties in Scotland were in East Lothian – £339,000 on average, and 1.1 times the price as in East Renfrewshire. East Lothian properties cost 2.7 times the price as homes in East Ayrshire (£123,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, with an average price of £1.3 million.

Factfile

Average property price in June

• East Renfrewshire: £294,474
• Scotland:£189,424
• UK: £287,546

Annual growth to June

• East Renfrewshire: +1.7%
• Scotland: 0%
• UK: +1.7%

Highest and lowest annual growth in Scotland

• East Lothian: +16%
• The Orkney Islands: -15.5%